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London House Prices 2019
Throughout our time as a company, Sold has been dedicated to helping our customers find the right property deals for them. We understand that everybody is different and that there are always a range of reasons why you might be looking to move in or around London. However, there is one thing that everybody is interested in, the price.
Our goal was to provide a resource to our customers that helped to break down the London housing market and make it clear where the best places to buy a new home were. That’s why we started the project to produce a map of London house prices, so that we could help people find, not just affordable and cheap houses for sale in London, but the home that was right for them.
Anyone who has lived in London will know that one of the only realistic ways to effectively travel around is via public transport. That’s why we made the decision to plot the map via tube stations. This popular mode of transport, for those who travel around London, is an essential part of daily life and a number of decisions are often made based on the nearest tube station.
With a fine toothcomb, we have systematically gone through all of the active tube stations on the London Underground and found the average property price for that area.
Some of the data that has emerged on the London property market, has been fascinating. Both the map above and the follow up statistics we have added below reveal some incredibly interesting insights into the current, and future state, of the London housing market.
Where to Buy in London
It’s interesting to see that certain Zone 1 and Zone 2 tube stations are relatively affordable, such as Kennington, Vauxhall and Borough, whilst some which are much further out, such as Richmond, Osterley and Leytonstone are on the higher end of the price range. This dispels the myth that London property necessarily becomes cheaper the further out you go.
Being within easy access of a tube station is important for people who live and work in London, and we hope this map helps Londoners to make an informed decision about their first (or next) property purchase."
Most Expensive Houses for Sale in London – By Tube Line
Cheapest Houses for Sale in London – By Tube Line
Highest Average House Price Increase in London – By Tube Line, 2016-2019
5 of London’s Highest Property Price Increase Tube Lines
Once in a blue moon will you see a headline stating that London property prices are on the downturn. Values of homes in the capital appear to be in a perpetual state of increase and those who bought properties in decades gone by are making a very healthy profit upon selling.
Research conducted by Sold has analysed the average property prices of all of London’s tube lines, offering a comparison between 2016 and 2019 prices. How much can average property prices increase in just three years? Cast your eyes over the top 5 underground line increases below to find out.
Covering 46 miles, the Central Line is London’s longest route. From West Ruislip in the west to Epping in the East, the Central Line spans some of the capital’s most recognised tube stops. However, as the line ebbs away in lateral directions the tube stations typically lie in more residential areas and benefit the countless workers who want a direct line into the city upon their daily commute.
Back in 2016 the average price of a property on the Central Line was £686,000. Just three years later and this figure has increased a staggering 12.4%. You can now expect to pay an extra of £85,160 for a home on this line.
Acting as London’s backbone, the Central Line encompasses some of London’s busiest tube stations, including Oxford Circus, Liverpool Street, Bond Street and Tottenham Court Road. This central cluster of stations is located in London’s Zone 1 – a location where property prices are at an eyewatering premium. In fact, 34% of the Central Line’s tube stations are located in Zone 1.
The average property price in Oxford Circus is an unbelievable £9,717,661. West Ruislip and Epping are the end of the line and both located in Zone 6. In West Ruislip you can expect to pay an average of £176,012 for a home, whereas the current value in Epping lies at £599,896. Compared to the staggering £9 million of Oxford circus, these property prices appear just a drop in the ocean.
So, what is to blame for the 12.4% Central Line property average increase? Undoubtedly inflation comes in to play; London is notorious for having some of the most expensive properties in the UK and is rare that the market witnesses a downturn. For the Central Line itself, there is an evident central cluster of Zone 1 stations that bear average property prices soaring into the millions. Despite the Central Line spanning a multitude of more residential tube stations the continual price increase of Zone 1 properties has undoubtedly affected the average property price for the entire line.
Opened in 1979, the Jubilee line is London’s newest line, although some sections of the track date back to 1932. The line presents a mixed affair with fantastic shopping on Bond Street and at Stratford’s Westfield shopping centre. Equally, you could conduct some business meetings in Canary Wharf then be at a gig at the O2 by hoping off at North Greenwich just two stops away. Fancy a football match, Wembley Park is on the line too.
However, there are two stations on the Jubilee Line which undoubtedly bring much of the foot traffic to the London Underground; Waterloo and Baker Street. In terms of travel connections, these stations are the heavyweights. At Waterloo you can change to a Bakerloo, Northern or Waterloo & City Line service. The station itself is vast and National Rail services run constantly from the main station promenade and Waterloo East – a vast 28 platforms in total. Baker Street is a similar affair with connections to the Bakerloo, Circle, Hammersmith & City and Metropolitan lines.
With two incredible transport hubs, is it surprising that the average house price on the Jubilee line has increased by 8%? Back in 2016 you could purchase a property on the line for an average of £710,833. Now you will need an extra £56,922 to make that become a reality. Transport hubs aside, the line is rich with residential, leisure and business districts – there isn’t anything the Jubilee Line lacks. Therefore, it could be said that the average price increase could be due to its popularity as a connected thriving hub, particularly for commuters and business men who want a swift journey to work, and play!
Spanning from South London to North East London, the Victoria Line is one of the shortest routes of the London Underground. Despite its length, it is one of the slowest, with tube trains covering just 800 meters per minute. However, the journey from Brixton to Whalthamstow Central is just 30 minutes in all – perfect for commuters living on the line who are partial to a lie in.
However, what it lacks in stature and speed it makes up for in usefulness. Tube trains clatter from Brixton to Whalthamstow Central, carrying commuters and tourists to the likes of Kings Cross St Pancras, Euston and Oxford Circus. Spanning Zones 1 to 3 it is no surprise that the well-trodden Victoria line is one of the most expensive to live on in the capital.
Just three years ago the average price of a property on the Victoria Line was £890,500. Fast forward to 2019 and you would be looking at paying an extra 6% on top of this figure, with the average property price coming in at £940,679. However, despite its high profile there are some tube stops on the Vicotoria Line which are surprisingly affordable despite their central fare zone.
Vauxhall station straddles Zones 1 and 2 and is also a National Rail interchange, particularly handy for commuters travelling further afield. Just a stone’s throw from Waterloo and the rest of central London, Vauxhall is a property hotspot. However, the average price paid of a home in Vauxhall stands at £683,012. This is cheaper than neighbouring Pimlico (£1,387,579) and Victoria (£1,352,068), dispelling the myth that property is cheaper the further out of central London fare zones you travel.
2018 wasn’t a strong year for the District Line. The infamous green line witnessed 198 delays longer than 15 minutes, leaving commuters who rely on the service thoroughly fed up. However, compared to the steam locomotives which used to chug along some of the District Line’s tracks in the 1800s, chances are you will get to your destination much quicker nowadays, even with the delays. The District Line is the third fastest in the city, covering 600 meters per minute. With some stations incredibly close together many people toss their Oyster cards to the side and stroll the streets of London for some respite from the rabbit warren of tunnels below.
Living anywhere on the district line has shot up in price over the past three years, with the average property price touching nearly £1 million at £953,660. The line has seen an average house price rise by £38,232 compared to 2016. With the average peak Oyster card payment coming in around £3.50, that’s 10,923 tube journeys you would have to scrap to save up for the difference.
However, despite the price tag, there are some incredible locations along the District Line. If you disembark at Tower Hill you can explore two of London’s most iconic landmarks; the Tower of London and Tower Bridge. A few stops west and you can hop off at Westminster to take in the Houses of Parliament, Westminster Abbey and Big Ben. St James’s Park is just one tube stop away, or a scenic walk if you fancy. South Kensington is famed for its ‘golden triangle’ – three of London’s most celebrated museums. You can meander easily from the V&S Museum, to the Natural History Museum and the Science Museum.
Tourist attractions aside, there are some enviable places to live on the District Line. West Kensington boasts some incredible properties but they average at a £1,231,149 to buy. However, shimmy down the line to Chiswick Park and you can enjoy riverside living in a picturesque area for a sum of £858,035.
In the East of London, the District Line spans some of what many Londoners would call ‘real London’ – Whitechapel, Stepney Green, Mile End and Bow. Much of the area is celebrated by locals for being quintessentially East End. However, much of the area has seen change, with historical architecture making way for executive apartments and gastro pubs.
For those new to the city, very few have waited for a northbound Piccadilly service to Cockfosters and not let out a little snigger. The fastest tube line in London also boasts an incredible 210 million passengers per year. Opened in 1906, the line serves many of London’s coveted tourist attractions including Covent Garden, Leicester Square, Harrods, Hyde Park and Buckingham Palace. You can even voyage to Europe’s busiest airport, Heathrow, by hoping on a Piccadilly westbound tube.
Whilst the tube stations more central to the Piccadilly Line tend to give way to tourist, business or leisure opportunities, as the zones ebb away the locations become much more residential. Hounslow, in west London, is a vast residential area with three stops on the Picadilly line. In the opposite direction, stations onward of Kings Cross St Pancras give way to more and more residential areas too.
Life on the Piccadilly line isn’t cheap. Back in 2016 you could secure a home for an average of £776,458. Today, however this average has risen nearly 5%, with a property costing £812,257. Many people assume that the living in a more outward zone means cheaper property prices. However, this assumption isn’t the case for many London tube lines, including the Piccadilly. You would not get much change from £600,000 when purchasing a property even in the outer Piccadilly zones.