With this morning’s tube strike causing chaos for many commuters and further planned strikes by Southern Rail set to compound the misery, many Londoners will be fantasising about owning a Zone 1 pied-à-terre so they can simply walk to work. But how much would that set you back?
Recent research by TotallyMoney.com has found that Londoners will pay on average an extra £6.60 a week in rent for every minute shaved off their travel time. The credit comparison site has recreated the iconic Tube map to show the average rent near each station and the travel time to the most desirable location on the line.
The map reveals that the average commuter will have to pay significantly more to shorten their journey each morning – no surprises there! But the capital does still contain a few centrally located stations that are undervalued.
Commuters can get from Mile End station in east London to Oxford Circus in just 16 minutes on the Central line, and pay an average weekly rent of £215. That’s a 35-minute cycle at a moderate pace, should another strike hit.
Your best bet along the Central Line, if you want to walk to Oxford Circus, is Chancery Lane, where rents average £433 per week and a brisk walk will take you 23 minutes.
On the other hand, people living in leafy Richmond can expect an average weekly rent of £331, despite being 29 minutes from the most expensive District line station (South Kensington).
Joe Gardiner, Head of Brand and Communications at TotallyMoney.com said of the research: ‘Obviously there is more to choosing a place to live than just seeing how close it is to work, but many Londoners feel the less time spent on the tube each day the better.
‘Here at TotallyMoney.com we are committed to making the credit market a fairer place and helping people get the best value for their money in every aspect of life. Therefore we hope this research gives people in London an insight into where they should be looking to live if they want affordable rent prices along with a manageable commute.’
Average rent prices refer to areas within 0.5km around each London Underground station. Data was taken from zoopla.co.uk (figures correct as of December 2016. Journey times calculated using tfl.gov.uk