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The London Underground Property Rundown – the most affordable sale and rental spots on the tube revealed

Leading independent London estate agent, Benham and Reeves, has looked at the cost of buying and renting across the London Underground, where is home to the most affordable and unaffordable spots and which line tops the table where the property market is concerned.

Using data from PropertyData.co.uk, Benham and Reeves crunched numbers on thousands of tube stops across the network looking at the average cost of buying and renting in the immediate area surrounding these stops.

By Line

There’s no doubt that a tube stop brings a price premium with the average house price across the 12 tube lines some 83% higher than the London average and the average rent some 34% higher.

For those looking to buy on the London tube network, the new kid on the block offers the most affordable foot on the ladder, with the average house price surrounding the DLR currently at £561,358. The Metropolitan line is the only other line with an average house price below the £700k mark.

The Waterloo and City line tops the table for unaffordability with an average house price of £1.4m, closely followed by the Circle line at £1.2m, the only other line to exceed the £1m mark.

Where rentals are concerned, the Met and DLR swap places to provide the most affordable options with the average monthly rent at £1,698 across the Met line and £1,788 on the DLR. Perhaps surprisingly, the Central line offers the third highest rental affordability of all lines at £1,964 a month.

By Station

When looking at the most affordable stations Barking and neighbouring Upney offer the best buy with an average house price of £309,366, closely followed nearby Dagenham East, Becontree and Dagenham.

For those looking to rent, Watford provides the cheapest option for tenants at £1,079 a month, with Hornchurch, Elm Park, Upminster Bridge and Northolt all ranking high for rental affordability.

The crown for most unaffordable stations where both buying and renting are concerned go to Gloucester Road and South Kensington, both with an average house price of £1.9m and an eye-watering average monthly rent of £4,207.

Director of Benham and Reeves, Marc von Grundherr, commented: 

“The London Underground is so heavily entwined with the capital’s property market but we don’t often think what value each line holds from a property perspective. Most of the time, home sellers and landlords will assume a property price premium simply due to the close proximity of an underground station.

However, where buyer and tenant are concerned, there is certainly a preference when it comes to which station, on which line and some are willing to pay way over the odds for the convenience, so it pays to do your research and maximise your properties potential.

Of course, value along the tube network mirrors that of the terrain above with more central lines commanding a higher price tag, but there are plenty of pockets of value to be found on the outer stretches of the Metropolitan Line, the Hammersmith and City line and the Central line for example, where affordability doesn’t mean forsaking a direct link through the heart of the city.”

 

Average House Price by Line
Average Rent by Line
Line
Price
Line
Price
DLR
£561,358
Metropolitan
£1,698
Metropolitan
£686,179
DLR
£1,788
Piccadilly
£754,248
Central
£1,902
Central
£755,570
Piccadilly
£1,964
Hammersmith & City
£757,402
Jubilee
£2,061
Jubilee
£778,154
Northern
£2,109
District
£846,131
Hammersmith & City
£2,131
Northern
£856,654
Bakerloo
£2,177
Victoria
£875,470
Victoria
£2,219
Bakerloo
£883,158
District
£2,221
Circle
£1,181,773
Waterloo & City
£2,782
Waterloo & City
£1,405,883
Circle
£2,848

 

Top 10 – Lowest average house prices by station
Line
Average House Price
Barking
£309,366
Upney
£309,366
Dagenham East
£311,642
Becontree
£315,272
Dagenham Heathway
£315,272
Heathrow Terminal 5
£330,511
Hatton Cross
£330,511
Heathrow Terminal 4
£330,511
Heathrow Terminals 2 & 3
£330,511
Northolt
£341,152
Top 10 – Lowest average rent by station
Line
Average Rent
Watford
£1,079
Hornchurch
£1,200
Elm Park
£1,200
Upminster Bridge
£1,200
Northolt
£1,231
Hounslow Central
£1,235
Hounslow West
£1,235
Hounslow East
£1,235
Croxley
£1,239
Chorleywood
£1,239
Top 10 – Highest average house prices by station
Line
Average House Price
Gloucester Road
£1,934,610
South Kensington
£1,934,610
High Street Kensington
£1,881,258
Tower Gateway
£1,830,176
Aldgate
£1,830,176
Bank
£1,830,176
Tower Hill
£1,830,176
Green Park
£1,792,800
Bond Street
£1,792,800
Piccadilly Circus
£1,792,800
Top 10 – Highest average rent by station
Line
Average Rent
Gloucester Road
£4,207
South Kensington
£4,207
St. John’s Wood
£4,129
Knightsbridge
£3,843
High Street Kensington
£3,518
Hyde Park Corner
£3,432
Sloane Square
£3,432
Victoria
£3,432
St James’s Park
£3,432
Pimlico
£3,432
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