Finally, an Underground Property Map of London!




Leading Mayfair and West End estate agent Wetherell, in association with Dataloft, have produced the capital’s first ever London-Underground Property Map (see attached map), which reveals average prices and rental values for apartments in postcode-based catchment areas around each of the London-Underground tube stations.

The new Wetherell London-Underground Property Map is fascinating revealing for the first time ever, London’s most expensive tube stations and underground lines, ranked by the value of residential properties around them. It also shows Londoners how dramatically property prices and rental values rise and fall as tube travellers pass between stations, with massive price changes often occurring in a short distance between just one or two tube stops. Owning a home next to the “right” tube station can result in a Londoner benefitting from “property gold and riches”, whilst living just a few stops down the line by another can mean owning a home which is just a third of the value of the former. Likewise, if you are renting you could live just a few tube stops away from a friend, yet enjoy a rent that is much lower than theirs.

To create this new tube map, Wetherell commissioned property research consultancy Dataloft to undertake an extensive survey; analysing sales and rental values for two bedroom apartments (as reported by the Land Registry, Lonres and Zoopla) over a 12 month period. The sales/rental data used was for the lowest level of London-Postcode sector immediately surrounding each Underground Station (a circa 0.25 mile radius). The research focused on the 63 underground stations within Prime Central London, the Underground’s Zone 1 Fare Area covering Earls Court to Aldgate and Kings Cross down to Elephant & Castle. The results were tabulated, ranked and artworked onto a London-Underground Transport Map. The new map and its publication was reviewed and approved by Transport for London.

Ranked by property values, Knightsbridge is London’s most expensive tube station (2 bed flat ave price £2.67m; £1,252 p.w. rent). Others in the top-10 most expensive tube station list include Hyde Park Corner by Belgravia (2 bed flat ave price £1.71m; £936 p.w. rent), Sloane Square in Chelsea (2 bed ave price £1.44m; £820 p.w. rent), Green Park in Mayfair (2 bed ave price £1.27m; £1,016 p.w. rent), High Street Kensington (2 bed ave price £1.19m; £822 p.w. rent) and Regent’s Park (2 bed ave price £1.18m; £713 p.w. rent).

Within Zone 1, the Piccadilly line is London’s most expensive and prestigious tube line, as ranked by the average property value on the line. The average vale of a two bedroom apartment on the Piccadilly line is £1.36 million. This is followed by the District (£1.06m), Circle (£1.02m) and Central (£995,452) lines. With its currently undervalued locations of Victoria, Pimlico and Vauxhall, the Victoria line has an average property value of £760,861, whilst at £613,890, the Northern line is the least valuable tube line in Zone One.

Other fascinating findings revealed by the new Wetherell London-Underground Property Map are the huge jumps in property values that occur between the relatively short distance of just a few stations. Travel just five stops from Elephant and Castle to Piccadilly Circus and prices rise from just £361,300 to £1.03 million, an increase of 186%. The tube journey between these stations averages nine minutes, equating to a property vale rise of £74,300 for every minute of the journey to Piccadilly Circus.

Likewise, travel just three stops from Southwark to Green Park and prices rise from £511,800 to £1,275 million, an increase of 150%. The tube journey between these stations averages five minutes, equating to a property value rise of £152,640 for every minute of the journey to Green Park.

Another interesting finding from the new Wetherell London-Underground Property Map are the significant “price cliffs” that arise across the tube network. The cliffs are large falls in property values that can occur virtually between one tube station and another. The most striking of these is the property “price cliff” formed by the Northern Line: the Waterloo to Warren Street branch. Within Zone 1, the tube stations to the West of this Northern Line branch predominantly have values of over £1 million. However, to the East of this Northern Line, tube station values drop dramatically, with values often less than half those of areas to the West. Between Travel Zones 1 and 2 property values drop again.

The Wetherell London-Underground Property Map shows that East London still has a long way to go before it can ever rival the West End and West London as offering the most sought after places in which to live.

Even in and around the City of London residential values remain as low as £591,600 (Mansion House), indicting that City workers still prefer to live in West London or the West End, and commute into work. It is also an indication of the lower availability of residential stock in this predominantly commercial property location compared to the more established residential addresses in the West End and West London.

Another interesting finding is the tube stations which have the highest volume of sales of two bedroom apartments over the last 12 months. Sloane Square in Chelsea comes top. However other tube station catchment areas enjoying high volumes of sales include the established residential districts around Knightsbridge, Notting Hill Gate, Bond Street, Lancaster Gate and High Street Kensington. Significantly, areas undergoing regeneration and new development have also enjoyed high volumes of sales over the last 12 months including Kings Cross station, Victoria station, Bayswater and Marylebone.

For interested landlords, Knightsbridge and Mayfair are the tube stations with the highest rental values in London, with Knightsbridge at £1,252 p.w. and Green Park (Mayfair) at £1,016 p.w. and are also the only locations in central London where rental values can consistently command values of over £1,000 p.w. Across the rest of Prime Central London, rental values at the various tube stations range from circa £550 p.w. to £950 p.w. Again, East of the Northern line there is a “price cliff” with rental values dropping to circa £100 p.w. to £200 p.w. lower than tube stations West of the Nothern line.

Peter Wetherell, Managing Director of Wetherell comments: “People talk about Postcode Power, but from our new Wetherell tube map Londoners will be able to have an easy way to view dramatic property price and rental rises and falls between tube stations. Its staggering to see that just a few stops along same the tube line can mean rises and falls in property values worth hundreds of thousands and even millions of pounds.

This exciting new map shows the value of property in London’s West End and West London. It also gives Londoners the ability to question property developers, estate agents and landlords about whether they are living close to a “good value” tube station or “poor return” tube station.

Property marketing people can use clever imagery, glossy brochures and smart marketing suites to help “talk up” homes in secondary underperfoming locations. However, one thing they cannot do is change the name of their local tube station. So the tube-linked data we have produced provides a starting point for Londoners looking to buy and rent property in the heart of the capital.”

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