Recent data reveals that homebuyers in London who purchase properties within 500 meters of a tube or railway station pay an average of £42,700 more compared to those buying similar properties located 1,500 meters away. This research, conducted by Nationwide Building Society, indicates that the emphasis on good transport links remains significant even in the context of shifting housing market dynamics influenced by the COVID-19 pandemic.
The study evaluates the value that buyers and renters place on proximity to rail and tram services in London, along with Manchester and Glasgow. Findings suggest that while some pandemic trends may be reversing—possibly as workers begin returning to offices—over 80% of London residents still consider proximity to transportation as either “fairly important” or “very important” when deciding on property purchases or rentals. In Manchester and Glasgow, around 60% of respondents expressed similar sentiments.
The data also highlights a notable frequency of public transport use among London residents, with nearly 60% utilizing local stations more than once a week. Comparatively, the usage rates in Glasgow and Manchester are 37% and 35%, respectively.
Further analysis indicates that London buyers pay an 8% premium to live close to transport hubs, equating to roughly £42,700 based on average property prices. This premium has remained relatively stable since before the pandemic, where it was 8.6%. In contrast, Greater Manchester and Glasgow report lower premiums of £10,900 (4.9%) and £8,800 (4.6%), respectively.
Nationwide’s recent statistics estimate the average cost of a UK home at £271,000, with London properties averaging £532,500. A significant number of potential movers, particularly those aged 55 and over, have postponed their relocation decisions in recent years, contributing to a supply shortage of specific housing types, such as bungalows.
Source: https://www.theguardian.com/business/2025/sep/23/london-homes-near-station-command-premium-over-those-further-away