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LONDON (Feb 3): The most affordable property prices across the London Underground network are found in Zones 4 and 5, with average prices ranging from £237,000 (RM1.44 million) to £240,000, according to research carried out by UK online estate agent firm eMoov.co.uk.
According to the survey, even one stop can make a big difference in property prices on each of the 280 tube stops of the London Underground network.
“The tube map is a fascinating way of breaking down the London landscape, especially where property price is concerned. It is well worth doing homework when buying in London, because as this research shows, sacrificing a few extra minutes with a longer commute can result in a considerable reduction in the price you will pay for a property,” eMoov.co.uk founder and CEO Russell Quirk commented.
The most notable price difference is between the Wembley Park and Finchley Road stops.
The average house price in Finchley Road exceeds £1.4 million, but taking the tube just eight minutes down the line to Wembley Park can save buyers £1 million.
Meanwhile, the most affordable properties across the whole network fall in Zones 4 and 5. The cheapest all lie within a nine-minute tube journey of each other in the London Borough of Barking and Dagenham. Barking, Dagenham East and Becontree all offer houses prices ranging from £237,000 to £240,000.
Quirk reckons that a property close to a tube stop, on a good line, remains one of the most sought after pieces of property in the capital.
“Close proximity to a tube stop will always act as an additional selling point for sellers and in most cases, is justification for a higher asking price,” he noted.
Click here for the full-sized London Underground map.
