How will the Night Tube impact property prices?

Posted 19 August 2016 by Helen Christie

After many delays and setbacks, the Night Tube will finally launch on the Central and Victoria lines on Friday 19 August, with services running 24 hours on Friday and Saturday nights...

The Night Tube is not to the same scale and investment of Crossrail, but it will still make a huge difference to the lives of Londoners’, and their property prices.

According to flat share site, SpareRoom.co.uk, over the last two years, rents near future Night Tube stations have risen by 20%, which is significantly higher than the average London growth rate of 7%.

St Johns Wood and Cockfosters are the tube stations with the fastest-growing house prices, with an increase of 9%. Increases in house prices has predominantly taken place around stations in the north and east of London, where initially lower prices have attracted buyers who have been unable to afford more central locations.

Richard Waind, from online estate agency Your Move, says: "Many of London’s central commuting zones may have been historically out of reach for renters and hopeful buyers, but the Night Tube opens up new possibilities for many Londoners.”

 

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