London homebuyers pay significant premium for train proximity

On average, London houses closest to Circle Line stations are the most expensive, those nearest the Central Line are cheapest.

Robert Gardner, Nationwide’s Chief Economist, said: "As the London Underground celebrates its 150th anniversary, Nationwide has found that living close to a Tube or railway station can demand a hefty premium on the price of a house (after taking account of other property characteristics, such as property type, size and local neighbourhood type).

"A property located 500m from a station attracts a 9% price premium (approximately £26,000 on a typical London home) over an otherwise identical property 1500m from a station. This price premium is two percentage points higher than when we conducted similar research in 2010, where the data suggested a 7% premium."

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