London Underground

Property prices along the Night Tube

London's weekend Night Tube service opens on Friday 19 August, after a two-year wait. The 24-hour weekend services will run on large sections of the Central and Victoria lines, with the Northern, Jubilee and Piccadilly lines expected to follow in autumn 2016.

We've taken a look at what's happened to house prices around affected stations since the Night Tube was originally mooted, and where night owls can find best value within easy walking distance of stations on the Night Tube map.

There have been some high prices paid for proximity to a station and some locations have seen steep house price growth. The table below identifies the station in each zone that recorded the sharpest rise in the average price of second hand properties sold within a 500m radius over the past two years.


Source: Savills using Land Registry (*average value of second hand sales within 500m radius of named station)

Looking specifically at the first two Tube lines to open for night travellers, and considering only those stations offering the night service, the best value homes are inevitably found in Zone 3 and beyond, with only North Acton in Zone 2 making it to the list of top 10 cheapest locations.

Homes within 500m of the Central Line's Newbury Park sold for an average of £296,642, making it the best value location, followed by Hainault and Tottenham Hale. Only seven of the 24-hour stations on these two lines have average house prices under the £400,000 mark.

Stations that have seen the greatest rise in average sold prices are both in Zone 3. Leyton on the Central Line and Seven Sisters on the Victoria Line have seen increases of +63 per cent and +58 per cent, to £420,695 and £394,663 respectively.

The table below names the top 10 stations for value on the two new Night Tube lines.


Source: Savills using Land Registry (*average value of second hand sales within 500m radius of named station)

While this in part reflects an out-performance by outer London compared with central London over the past two years, it will also be a reflection of the mix of the size and type of homes actually sold during the periods measured and cannot be taken as a pure measure of the average growth in underlying values.

Further information

Visit Savills Residential Research

 

In plain English

Read more

Savills on Twitter

Follow us on Twitter

If you have any comments or questions regarding the Savills blog just drop us a line.

Email the Editor