What’s in a Tube stop? Well, it could be hundreds of thousands of pounds, that’s what. We all know that living next to a Tube station can increase the price of a property and we know that certain areas of London are significantly more expensive than others, but what does it really look like in black and white? Estate agents Wetherell and researchers Dataloft tracked all the sale and rental prices of two bedroom flats in the centre of London for one year and devised this alternative tube map to depict their findings.
Unsurprisingly, Knightsbridge came top with the average sales amounting to £2.6m and the average rent costing a whopping £1,252 per week. King’s Cross came in last with the sales costing just £466k and rent coming in at £512 per week. More interesting nuggets of information came from the fact that proximity doesn’t always equate to similarity. Sloane Square and Victoria may be within minutes of each other but the pricing does not reflect that. With properties selling at £1.4m in Sloane Square, they go for a slightly more humble £985k just down the road. Similarly, Great Portland Street came in fourth while its surrounding areas, Edgware Road and King’s Cross, came in at fourteenth and twentieth respectively.
Other discoveries include that the Piccadilly Line is the most expensive and prestigious line according to property prices and the Northern Line is the least valuable with the Victoria Line seemingly hugely undervalued. We don’t know how accurate all the figures are, but we know where we’ll be heading next time we’re planning on moving house. Carly-Ann Clements
So, will this influence where you next plant your roots or do you think it’s all codswallop? Find more of Wetherell and Daraloft’s discoveries here.