Stratford property prices to boom post Night Tube
London property near tube stations with 24-hour service to increase in value by up to 10% above baseline growth; Stratford, Mile End and Willesden Green are set to rise the most
New research by Dataloft for online estate agent SellMyHome.co.uk shows that homes within a half-mile radius of a station running the Night Tube could increase in value by 5-10% over and above the baseline growth in the wider locality.
The top three property hotspots most likely to benefit from a price premium are Stratford, Willesden Green and Mile End, where residents will enjoy reduced time and cost of night travel combined with property affordability.
The 24-hour tube service is likely to appeal strongly to students and young adults, many of whom rent in the private sector, triggering rental growth as well as house price growth in areas affected by the service.
Dataloft analysed 50 stations in Zones 2 and 3 that will operate the 24-hour tube service. To identify areas with the greatest potential for growth, they were assessed against various criteria including whether the average sale price of an apartment is below the London average and if the proportion of full-time students is higher than the London average.
Will Clark, Managing Director of SellMyHome.co.uk said, “This insightful research once again shows the move away from high streets and towards transport hubs within London. Transport remains one of the key determinants for house prices in the city and this research has highlighted areas ready to see significant house price growth.”Read the full research click HERE