3rd February 2015
Bond Street is the most expensive tube location for home buyers with the average property near the station worth £3.2 million, a new study has found.
Analysis by online estate agent eMoov.co.uk, revealed that Dagenham East is the cheapest stop with an average property price of £194,000.
Chorleywood is the most in-demand tube stop and the Metropolitan is the most sought-after underground line for property buyers.
The agency’s December Hotspots data found increasing demand in commuter areas outside the capital as pressure from property-seekers in central London eased.
Zone 1 had the most expensive property prices, but the lowest demand.
This is in contrast to Heathrow , with the cheapest homes, at an average price of £164,000. However there were only four properties listed for sale on the website. Potential home buyers have to weigh up the low house prices against the problem of noise pollution from the airport.
Dagenham East has average properties at £194,000 and one bedrooms costing from £143,000.
While Zone 1 had the lowest demand at just 20%, Angel was more resilient at 35% with an average property price of £872,380.
Beyond central London, prices see a notable drop with property in Zone 2’s most expensive tube stop Holland Park around half that of Bond Street.
In Zone2, at 49%, Bethnal Green is the most in demand location, with the average house costing just over £500,000.
At an average price of £745,000 Golders Green is Zone 3’s as the most expensive tube stop. However with a demand of just 21%, in part due to its more central location on the Northern line, it trails behind the average zone demand of 34%.
Tottenham Hale (56%) is the most in-demand location in Zone 3, with more affordable housing, £200,000 below the zone average. It is a direct and fast commute to popular working hubs such as Oxford Circus and Kings Cross and Victoria.
Founder and CEO Russell Quirk said: “The latest insight from the research team at eMoov further confirms the growing demand for commuter areas in Zone 5 and outward. It is fascinating to see the gulf in demand between lines and the difference one stop can make to the value of a property.
“With the Piccadilly, Victoria, Central, Jubilee and parts of the Northern line due to benefit from the introduction of a 24 hour service, stations along these lines will no doubt see demand benefits over others such as the Bakerloo line.”