10 April 2012
Homebuyers in London are paying an average £20,000 more to live near a Tube or railway station.
Properties within 500 yards of a station are at least seven per cent more expensive than houses or flats a mile away, according to figures from Nationwide building society. That would add £20,000 to an average house price of £285,000.
Meanwhile, properties half a mile from a rail or Tube service were 3.4 per cent, or £10,000, dearer.
Nationwide chief economist Martin Gahbauer added: "Homebuyers would appear to prefer living closer to a station, [although] it becomes less important once the station is outside easy walking distance."
