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London house prices vary by up to £1m between tube stops

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  • 03/02/2016
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London house prices vary by up to £1m between tube stops
House prices can be severely impacted by even small distances in the Capital, as some buyers would save £1m by extending their search by just one tube stop, research has found.

Buyers purchasing a property in Wembley Park would pay an average of £404,000 compared to £1.4m in Finchley Road which is eight minutes on the tube closer to central London.

The same large differences in price can also be seen by moving one stop and zone from Hampstead in Zone two to Golders Green in Zone three, where the average prices are £1.4m and £962,000 respectively, resulting in a saving of almost half a million.

The trend extends to western parts of the Capital. The average house in Zone two’s Turnham Green costs just under a million, while a price in Acton Town, just four minutes away, totals just over £500,000.

The most affordable properties in London can be found in Zones four and five, with Barking, Dagenham East and Beacon Tree all offering an average house price of £237,000 to £240,000.

Russell Quirk, founder and CEO of Emoov.co.uk, said: “The tube map is a fascinating way of breaking down the London landscape, especially where property price is concerned.

“Despite the constant threat of strike action, a property close to a tube stop, on a good line, remains one of the most sought after pieces of property in the Capital. Close proximity to a tube stop will always act as an additional selling point for sellers and in most cases, is justification for a higher asking price.”

Property-Map-London

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