1. ITV Report

Premium of living near a station? An extra £42,000

The prices of homes close to Southfields station are £52,000 higher than other homes a mile away. Photo: PA

A survey by the Nationwide Building Society has found that if you are trying to sell a home in London, you can expect to make an average of £42,000 more if it is near a station. The survey found that homes within 500 metres of Southfields Station on the District Line sold for an average of £551,800. But similar homes that were a mile away from the station sold for just £499,300 - that's £52,500 less. And residents near Streatham station have property prices £42,400 higher than residents who live a mile away. The building society produced figures showing how the house price increase varies with the distance from a station:

  • 500 metres - 10.5% increase
  • 750 metres - 7.6% increase
  • 1,000 metres - 4.9% increase
  • 1,250 metres - 2.3%

Nationwide found that because of London's extensive transport links, only 6% of homes were more than 1,500 metres away from a station. Apart from the City of London, Camden is the borough with the best transport connections. And homes there cost an average of £843,000. However, Havering, Bexley and Barking & Dagenham all had less than 20% of their properties within 500m of a station. The building society also looked at property prices near the various lines run by Transport for London. The Circle Line came top of the list with the average home costing £802,601.

  • Circle - £802,601
  • Bakerloo - £550,762
  • Northern - £530,506
  • Victoria - £518,512
  • Jubilee - £503,589
  • Overground - £484,630
  • Hammersmith & City - £478,624
  • District - £461,683
  • Piccadilly - £442,594
  • DLR - £440,704
  • Central - £373,950
  • Metropolitan - £369,417