Typically there are a number of prime markets in London that are synonymous with high property values. However, with rising prices throughout the city, properties valued at £1 million and up are becoming more and more common. This can make it tricky to decide what areas to target when looking to make a purchase. Luckily there is one map you can look at to get a quick idea of locations where values may be high and properties are likely to be in demand.
Many investors wouldn’t imagine that a map of the London Underground would be helpful to them, but it can actually be a great resource. These are the areas where demand is typically highest because they give residents easier access to the rest of the capital, a very attractive quality for prospective tenants and buyers. The trend has even led Savills to look at the performance of areas close to Tube stops and create their own interactive map showing the values in different locations.
In 2010 only 11 Tube stations could claim the average property value within a radius of 500 meters was £1 million or more. By 2015 this number had grown more than fivefold, bringing the total to 58. Zone One now has 36 stations on the list and the average value across all of these is £1.3 million. Zones Two and Three have 18 and 3 respectively.
The most surprising finding is that Moor Park in Zone 6 has an average house price over £1.6 million. The area in just outside of Greater London but is on the Metropolitan Line so travellers can get to King’s Cross in 45-50 minutes.
If you are looking for a property in London and are unsure where to start your search a map of the Underground is a useful resource. You should look at each area around the stations carefully and check how long journeys take to the larger, central stops. You can then examine each location in more detail to see what other benefits it has to offer including the type of properties, value for money and leisure opportunities. If you need some help with this, we can offer advice and guidance on every aspect of your property portfolio, handling everything from investments to sales to council leasing in Enfield and throughout the rest of the capital.