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Tube station value 'a factor for those buying a house'
Posted by Mark Cunningham
Those in the process of buying and selling a home are arguably well aware of the importance attached to living close to a tube station.
And according to Nationwide, a property 500 metres from such a transport link typically fetches £20,000 more than an equivalent home 1,500 metres from one.
Responding to the figures, Martin Gahbauer, Nationwide's chief economist, noted that 34 per cent of Londoners use the London Underground or National Rail to travel to work.
This compares with eight per cent for Great Britain as a whole.
"One might expect those buying property in the capital would prefer to live close to a tube or train station and be willing to pay a premium for this," he said.
Previously, a piece in Time Out summarised some of the areas of London perceived to be up-and-coming.
It cited the likes of Bow, Clapton, Deptford, Tooting and Walthamstow - among others.
16/07/2010 16:25
News category: Property