London buyers face 10% premium to live near a station

London home buyers are prepared to pay a 9.4% premium on a house located no more than 500 metres away from a station, according to Nationwide. That amounts to approximately £42,900 based on average London house prices. In comparison, a premium for a property half a kilometre from a station in Manchester stands at 7.8%, and falls to 3.8% in Glasgow. Nationwide suggests that “this probably reflects the greater reliance on public transport in the capital.” Average house prices in London are most expensive near the Circle line (£801,000), while TfL rail serves the least costly homes (£359,000).

City AM (32/08/3029)