House prices vary dramatically between London’s transport zones around Tube stations, according to new Savills research.
Looking at the average value of property within a 500m radius of each Underground station in the Capital, we’ve identified 58 stations where surrounding average property prices have reached £1m or more, compared with just 11 stations in the year to March 2010. 36 of these stations are in Zone One, 18 in Zone Two, three in Zone Three and one in Zone Six.
Knightsbridge is the most expensive station with an average price of £4.3m, followed by Hyde Park Corner, Sloane Square and Green Park, all with average prices over £3m. In contrast, Elephant and Castle is the least expensive station in Zone 1, with an average property price of £413,760 – the only station in Zone 1 with an average price under £500,000.
There are wide house price differentials between transport zones, creating opportunities for significant savings by pushing out further along a Tube line. The difference between Zone 1 and 2 and Zone 3 and beyond is substantial and definitely worth weighing up against a longer, potentially more expensive tube journey.