A property located 1,000m away commands a 4.3 per cent premium, at 750m this increases to 6.8 per cent while a property 500m from a station attracts the 9.7 per cent figure.
“Our analysis suggests that there has actually been a slight increase in station premiums in London compared with pre-pandemic levels. In 2019-20, a property located 500m from a station attracted an 8.6 per cent premium over a comparable property 1,500m from a station” explains Harvey.
“The Circle line serves the capital’s most expensive areas taking in much of central London and also parts of west London. Average house prices are around £850,000 in areas where the nearest station is on the Circle line.
“Of all the London Underground lines, average house prices are least expensive where the nearest station is on the Metropolitan line. This probably reflects that it stretches towards the outer suburbs, with only a short section in central London
This compares with a 3.5 per cent (£5,200) premium based on those buying in 2019-20.
In Greater Manchester – also well served by an extensive network of railway and tram lines, including the newly-expanded Metrolink – a property located 500m from a station attracts a 6.1 per cent price premium (approximately £11,000).