How the Night Tube Is Affecting Property Prices
Night owls who like to party could be sitting pretty if they own a property near one of London’s night tubes…
Words: Fiona Brandhorst
Lead image: White City Living by St James
Central and Victoria line tubes started running round the clock on Friday and Saturday nights a year ago this month, and according to Savills property prices started to creep up as soon as the night tube idea was mooted. Jubilee, Piccadilly and Northern line night tubes now also traverse the capital north to south, east to west, with more tubes set to go nocturnal by 2021, providing potential growth opportunities for buyers of both new and pre-owned property.
‘Confidence is starting to ripple out to outer markets with those seeking an urban village or suburban lifestyle causing strong price growth in these areas,’ comments Robert McLaughlin, Sales Director at KFH. Its figures showed that the average London property price was £634,891 in Q1 2017.
Buyers looking for a home in an ‘urban village’ are likely to pay £146,517 more than the average, while ‘suburban’ London buyers will pay 27% less. KFH is selling a spacious one bedroom converted flat over the Crown and Anchor pub just off Chiswick High Road for £499,950. It’s a short walk from Turnham Green on the Piccadilly line.
Buyers looking for a home in an ‘urban village’ are likely to pay £146,517 more than the average
On the doorstep of White City on the Central line, design-conscious developer St James is launching a range of apartments at White City Living next month. It’s a significant residential development acting as a keystone for this emerging prime west London community in Zone Two, less than 15 minutes to the West End. Prices are expected to start from £620,000 for a studio.
Hampstead Manor by Mount Anvil is in one of London’s most exclusive suburbs, yet a short walk from Hampstead’s all night tube. The collection of 125 one, two, three and four-bedroom apartments, townhouses and detached residences are priced from £747,500. The four bedroom Skeel Library centerpiece has been restored as a single residence across four floors combining over a century of history and a wealth of contemporary features totaling 5,220 sq ft of living accommodation, priced at £7.95m.
A choice of Victoria or Piccadilly night tubes as well as high-speed rail routes has seen King’s Cross show strong growth in recent years with values continuing to perform well against more traditional prime locations including Belgravia and Knightsbridge.
A choice of Victoria or Piccadilly night tubes has seen King’s Cross show strong growth with values continuing to perform well against prime locations like Belgravia and Knightsbridge
The Onyx Apartments are a striking collection of 117 one, two and three-bedroom homes by Taylor Wimpey Central London, on the picturesque Regent’s Canal, forming a significant addition to the area’s residential landscape. Residents benefit from a 24-hour concierge service and an exclusive roof terrace on the 9th floor. Prices start from £750,000.
The first homes built to the ultra-low energy standards of Passivhaus in Zone One and close to the night tube at Southwark are the Lendlease Futurehomes at Elephant Park. Each of the 15 Victorian-style three and four bedroom townhouses has second-floor terraces or balconies overlooking private courtyards and communal landscaped gardens planted with 1,000 trees. Recent research from Savills suggests buyers are willing to pay a 4.1% premium for a Victorian home in central London.
Jonathan Emery, Managing Director of Property, Europe, at Lendlease comments: ‘This is an opportunity for eco-conscious consumers who want a home that reduces its impact on the environment, without compromising on comfort, design or location.’
Each home has a constant supply of clean, fresh air with an advanced filtration system removing pollen, dust and smoke. Prices start from £1.4m.
While the Northern line often gets a bad press from commuters, its night riders are impressed. Clapham North and Stockwell tube stations are a short walk away from 330 Clapham Road, a range of apartments and houses by Notting Hill Sales. Prices start from £475,000.
House-hunters who like hedging their bets will take to Palfrey Place within walking distance of both Vauxhall and Oval Zones One and Two tubes. The 3,088 sq ft, three bedroom, three bathroom maisonette has a vast open plan kitchen/dining area plus a TV room, study and patio, for sale with Hamptons International for £1.7m.