The newly unveiled Night Tube is set to cause nearby house prices to rise according to experts.
There will be an increase in house price for property located within 10 minutes of a Night Tube station on the Victoria and Central lines says estate agent Strutt & Parker.
“The stops on the end of the Night Tube lines will be of particular appeal to the first-time buyer and the younger demographic who enjoy London’s nightlife and will like not having to spend a fortune on taxis late at night,” Dominic Price, partner at Strutt & Parker toldThe Evening Standard.
Good transport links are known to increase house prices considerably, as is the proximity to other useful amenities such as supermarkets and good schools.
“The introduction of the night tube service should only help boost the value of the properties surrounding stations due to benefit from the service. The great thing about the underground and the night service itself is that you don’t have to live centrally to benefit, you can live out in Zone 4 or beyond and still benefit,” said CEO of eMoov.co.uk, Russell Quirk.
“Even Loughton out in Zone 6 is a promising prospect for home buyers with demand at 45% and price seeing a 5% increase in the last 12 months.”