Homes near Night Tube stations:property hotspots tipped for price growth

Evening Standard - Homes & Property

From this weekend London’s long-awaited 24-hour Tube service starts running on the Central and Victoria lines, with the Piccadilly, Jubilee and Northern lines to follow in the autumn.

It will be a boon to shift workers and partygoers, who will enjoy faster-than-usual travel from the suburbs to the city centre — and it will be a selling point for homes close to the stations that will benefit. 

Top stops in Zone 2

The strongest-performing Zone 2 Night Tube location over the past two years has been Oval on the Northern line, according to research by Savills. Prices have grown by 53 per cent to an average £637,297.

Tom Floyd, sales manager of Winkworth, says Oval’s popularity has grown as buyers have been priced out of Kennington. “It has also probably got a better mixture of properties for first-time buyers, with lots of Victorian houses which have been converted into flats,” he adds.

A two-bedroom Victorian conversion flat would cost about £550,000 but for better value, former local authority flats are priced at about £450,000. Whole houses start from about £1 million for a three-bedroom period property.

If Oval is beyond your budget then another Zone 2 hotspot over the last two years is North Acton on the Central line. Prices have risen by almost 49 per cent, to a significantly more affordable average of £333,463.

North Acton is a far more affordable sort of place. It also has Victorian homes, but more modestly sized than at Oval, and there are also plenty of Thirties houses. 

As well as late-night trains North Acton will soon benefit from the opening of the Elizabeth line — Crossrail. It is only half a mile from the stop at Acton Main Line, which will give fast, direct train links to the West End and the City.

Local amenities include Wormwood Scrubs park and a reasonable selection of restaurants, pubs, and shops, but for something a little more exciting, 

Ladbroke Grove and Chiswick are both approximately three miles away, and are probably the nearest places for interesting shops and bars.

Read more at: http://www.homesandproperty.co.uk/property-news/homes-along-the-night-tube-property-hotspots-tipped-for-price-growth-in-zones-2-3-and-4-from-leyton-a103716.html