London home buyers pay a significant premium to live close to a tube or train station | Europe | News
Buying a property close to a tube or train station in London means forking out tens of thousands of pounds more, research from the Nationwide shows.
It indicates that properties within 500 meters of a station can command an extra £27,000 compared with one that is 1,500 meters away and these premiums appear to have increased since 2010.
On average, London houses closest to Circle Line stations are the most expensive and those nearest the Metropolitan Line are the cheapest.
‘We examined how the proximity to a tube or railway station impacted property prices in Greater London after taking account of other property characteristics, such as property type, size and local neighbourhood type,’ explained Robert Gardner, Nationwide's chief economist.
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