Property News · August 20, 2014

What the distance from the station does to the price of your house


Survey by Nationwide of London, Manchester and Glasgow puts numbers on the value of living close to public transportA nearby tube station adds £42,000 to the price of a London house, a Manchester Metrolink stop adds £12,000, while proximity to a Glasgow rail station is worth £9,400, according to analysis by Nationwide building society.Researchers found that buyers in London will pay an average of 10.5% more for a home that is within 500 metres of a tube station, equal to £42,000 on a typical property. If the walk to the station is just another 250 metres – which should take less than five minutes – the price drops by more than £10,000, while at more than 1,500 metres (around a mile) from the station, the price premium disappears altogether. Continue reading…

Source : theguardian.com
Read more…What the distance from the station does to the price of your house

You may also like...