Buyers in London who buy a house within 500 meters of a rail/tube station are paying up to £42,700 more.
According to the analysis by the Nationwide Building Society, the prices of houses 500 meters away from a station have been compared with those 1,500 meters away.
In Greater Manchester, houses near a station cost an extra £10,900 and in Glasgow, £8,800 more.
According to the Building Society’s senior economist Andrew Harvey, recent research confirms that transport links are extremely important for those living in big cities.
80% of those buying or renting a house in London say that proximity to a station is very important, with almost 60% of Londoners travelling by rail or tube more than once a week.
In Glasgow, 37% of people travel by rail or subway and in Manchester, 35% by rail or metro link. Consumers are willing to pay an average of 8% more if their home is close to a station, while those living in London are willing to pay up to 10% more if there are good transport links.
According to the report, the average price of houses near Circle Line stations is £729,000, while the price of houses near Elizabeth Line stations is £411,000.
