With the 24-hour service having launched on the Central, Jubilee, Victoria and Northern lines earlier this year, and the Piccadilly Line ready to join the party this weekend, we’ve updated our look at the property market surrounding each night tube stop station.
Night Tube Property Prices
Property Price by Line
The average house price across all stations is due to benefit from the night tube, or already benefiting from it, is currently £858,064, which highlights the inflated cost of property profiting from the service compared to the rest of capital, with property some £300,000 more than the London average as a whole.
The Victoria line takes the top spot for most expensive, with property surrounding its night tube service stations costing £949,212 on average. The Central line is also marginally more expensive with an average property price of £858,034.
However, this weekend’s extension will also see the lowest average house price join the party as at £833,975 – the Jubilee line is the most ‘affordable’ of all lines due to run 24-hours a day.
The Jubilee line not only has the lowest average house price, but homeowners along the route have also enjoyed one of the biggest value increase over the last year. Prices along the grey line have increased by +5% in the last 12 months, compared to just +3% on other lines, with only the Northern line enjoying a larger increase, up +6%.
No surprise then, that the Northern line is home to some of the highest yearly price increases where individual stations are concerned. Burnt Oak has seen a huge 12% increase in property values over the last year, with Edgware, Waterloo and Kennington also seeing double digit growth with property values up 10%.
St John’s Wood on the Jubilee line has also seen a large increase in property values over the last year up +9%. Cockfosters, on the Piccadilly line, has also enjoyed a +9% increase, with the rest of the top 10 not far behind with 8% increases.
The Most Expensive
As expected, it’s the Zone 1 stations that dominate the most expensive stops across the night tube.
At an eye-watering £2.5m, Gloucester Road and South Kensington are the most expensive across the Piccadilly line and night tube service as a whole, joined by Marble Arch as the most expensive on the Central line service.
Bond Street (£2.3m) also on the Central line is the most expensive across the Jubilee line service. At £1.9m, Goodge Street and Oxford Circus are the most expensive across the Northern and Victoria lines, respectively.
Goodge Street is also one of a huge 13 stops on the Northern line with an average house price over the £1m mark, the most expensive of which is Tottenham Court Road at £2,083,431.
The Most Affordable
In contrast, there are still a number of affordable options for London’s night-time revellers across the night tube services. Despite boasting the highest average, the Victoria line is home to the second cheapest station in Tottenham Hale (£347,389).
In spite of property values on the Central line also being higher than the night tube average, the line has three of the top 10 cheapest – Stratford (£362,886), Gants Hill and Newbury Park (£362,303).
The Northern line may be home to some seriously expensive property but it also offers a number of more affordable options to get on the Night Tube ladder. The cheapest of which is Morden at the southern end of the service with an average house price of just £398,442.
The Jubilee line is home to the second most affordable in Canning Town at £352,366. But the cheapest station is on the Piccadilly line – property around Hatton Cross costs £220,038 on average.
Property demand across the full night tube service is currently at 24%. Despite being the cheapest, the Jubilee line is currently the lowest in demand at 20%. However, the launch of the night tube and the increased desirability, as a result, should see this demand start to increase and prices follow suit.
As a result of this low property demand, the Jubilee line has no entries into the top 10 most in demand stations. The table is for the large part dominated by the Victoria and Central lines, evident in the inflated price of property along each service.
However, despite being the cheapest on the entire network, Hatton Cross is the second most in demand station at 56%. Tottenham Hale just edges Hatton Cross to the top spot at 56%.
On the Central line Woodford (51%), Leytonstone (49%), Loughton and Barkingside (45%) all made the top 10.
Morden is the only entry for the Northern line with the lowest average price on the service resulting in a demand level of 44%.