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Mind the property price gap! Tube map of London reveals massive disparity between homes in richest and poorest areas


02-12-2015

Mind the property price gap! Tube map of London reveals massive disparity between homes in richest and poorest areas

 

 

Top ten: This graphic shows the most expensive areas in the capital to buy a house, based on the London Underground map

Top ten: This graphic shows the most expensive areas in the capital to buy a house, based on the London Underground map

Bottom ten: Nine of the bottom ten Tube stations for house prices are in east London. The tenth is on the other side of the capital at Heathrow - although there are only four properties listed for sale, due to the proximity of the station to the airport, so it is something of an anomaly

Bottom ten: Nine of the bottom ten Tube stations for house prices are in east London. The tenth is on the other side of the capital at Heathrow - although there are only four properties listed for sale, due to the proximity of the station to the airport, so it is something of an anomaly

CENTRAL: Homes lining the streets around Bond Street station - the most expensive area in London - cost an average of £3,231,559. The 'demand' figures shown in these graphics are determined by the percentage of properties sold, reflecting the demand and stock in an area

CENTRAL: Homes lining the streets around Bond Street station - the most expensive area in London - cost an average of £3,231,559. The 'demand' figures shown in these graphics are determined by the percentage of properties sold, reflecting the demand and stock in an area

DISTRICT: This line is home to the stations with the cheapest prices in London; Dagenham East (£194,058) and Dagenham Heathway (£197,542)

DISTRICT: This line is home to the stations with the cheapest prices in London; Dagenham East (£194,058) and Dagenham Heathway (£197,542)

METROPOLITAN: Wembley Park to Finchley Road on this line - between zones four and two in north-west London - has a price fall of £600,000

METROPOLITAN: Wembley Park to Finchley Road on this line - between zones four and two in north-west London - has a price fall of £600,000

NORTHERN: Leicester Square in the West End is this line's most expensive station, with an average house price of more than £2.1million

NORTHERN: Leicester Square in the West End is this line's most expensive station, with an average house price of more than £2.1million

PICCADILLY: A study says Ruislip in north-west London on this line and the Metropolitan is best for value, demand and a reasonable commute

PICCADILLY: A study says Ruislip in north-west London on this line and the Metropolitan is best for value, demand and a reasonable commute

The average house price also drops £600,000 drop from Wembley Park to Finchley Road, and £400,000 from King’s Cross to Highbury and Islington.

Meanwhile the price gap from Hampstead to Golders Green is a £260,000 fall, while Vauxhall to Stockwell comes with a drop of £280,000.

In addition, the 'demand' figures shown in the graphics are determined by the percentage of properties sold, reflecting the demand and stock in areas.

Russell Quirk, the founder of eMoov, which carried out the research, said savvy buyers should look at where new gaps could appear on the network.

As an example he cited the Northern line extension to Nine Elms and Battersea in south London, which is expected to be completed and open by 2020

TOP TEN MOST EXPENSIVE LONDON UNDERGROUND STATIONS BY AVERAGE HOUSE PRICE
Rank Zone Line Station Average Cost
1 1 Central, Jubilee Bond Street £3,231,559
2 1 Piccadilly Hyde Park Corner £2,611,400
3 1 Piccadilly Knightsbridge £2,573,935
4 1 District, Circle Sloane Square £2,275,420
5 1 Circle, District, Victoria Victoria £2,230,902
6 1 Bakerloo , Piccadilly Piccadilly Circus £2,196,650
7 1 Jubilee, Piccadilly, Victoria Green Park £2,190,938
8 1 Circle , District , Piccadilly South Kensington £2,151,853
9 1 Northern, Piccadilly Leicester Square £2,134,902
10 1 Central, Victoria, Bakerloo Oxford Circus £2,051,713
CHEAPEST STATIONS IN ZONE FOUR 
Rank Zone Line  Station  Price
1 4 District, H&C Upton Park  £255,063
2 4 District, H&C Plaistow £271,520
3 4 Victoria Tottenham Hle £313,913

 

CHEAPEST STATIONS IN ZONE FIVE 

Rank Zone Line  Station  Price
1 5 District, H&C  Barking  £221,469
2 5 District Upney £223,014
3 5 District, H&C  East Ham £231,036

 

CHEAPEST STATIONS IN ZONE SIX 

Rank Zone Line  Station  Price
1 6 District Dagenham East £194,058
2 6 District  Dagenham H'way £197,542
3 6 District  Becontree £203,432

 

HUGE PRICE GAPS BETWEEN STATIONS: HOW LONDONERS CAN SAVE A MILLION BY LIVING ONE TUBE STOP AWAY

Station from Station to Price Gap Demand Gap % Line
Bond Street Green Park £1,000,000 5% Jubilee
Wembley Park Finchley Road £600,000 6% Metropolitan
Stockwell Brixton £480,200 18% Victoria
King's Cross Highbury & Islington £390,500 13% Victoria
Vauxhall Stockwell £280,000 6% Victoria
Hampstead Golders Green £260,000 11% Northern
Morden South Wimbledon £189,100 - Northern
Finsbury Park Seven Sisters £177,000 9% Victoria
South Wimbledon Colliers Wood £164,000 18%

Northern

Dropping: House prices fall sharply between zones one and two, before levelling off from zone three - before rising again at zone eight

Dropping: House prices fall sharply between zones one and two, before levelling off from zone three - before rising again at zone eight

Pricey: Holland Park (Central), Golders Green (Northern), Richmond (District) and Stanmore (Jubilee) are the most expensive stops per zone

Pricey: Holland Park (Central), Golders Green (Northern), Richmond (District) and Stanmore (Jubilee) are the most expensive stops per zone

Mr Quirk said: ‘These locations and their surrounding areas will see a dramatic rise in house prices and demand as they open the new service.’

The cheapest three stations on the map are Dagenham East, Dagenham Heathway and Becontree - all towards the east end of the District line.

But while the average house price in Dagenham East is a mere £194,000, the most expensive station in London is Bond Street at £3,232,000.

This is followed by Hyde Park Corner at £2,611,000, Knightsbridge at £2,574,000, Sloane Square at £2,275,000 and Victoria at £2,231,000.

JUBILEE: After Bond Street, Green Park is the next most expensive station to live on the line - with an average house price of £2.2million

JUBILEE: After Bond Street, Green Park is the next most expensive station to live on the line - with an average house price of £2.2million

HAMMERSMITH AND CITY: Many stations with the lowest house prices are towards the east of this line - including Barking and Upton Park

HAMMERSMITH AND CITY: Many stations with the lowest house prices are towards the east of this line - including Barking and Upton Park

CIRCLE: The average house price on this line is more than £1.5million - although it only operates inside zones one and two

CIRCLE: The average house price on this line is more than £1.5million - although it only operates inside zones one and two

VICTORIA: The average house price drops £400,000 from King’s Cross to Highbury and Islington, and £500,000 from Stockwell to Brixton

VICTORIA: The average house price drops £400,000 from King’s Cross to Highbury and Islington, and £500,000 from Stockwell to Brixton

BAKERLOO: This line has two stations in the top ten most expensive - Piccadilly Circus (£2,196,650) and Oxford Circus (£2,051,713)

BAKERLOO: This line has two stations in the top ten most expensive - Piccadilly Circus (£2,196,650) and Oxford Circus (£2,051,713)

Similarly priced are Piccadilly Circus at £2,197,000, Green Park at £2,191,000, South Kensington at £2,152,000 and Leicester Square at £2,135,000.

Official figures revealed last month that the average house in London costs £501,000 – which is almost double the UK average of £271,000.

Mr Quirk added: 'It is fascinating to see the gulf in demand between lines and the difference one stop can make to the value of a property.'

The firm's study said that Ruislip is the best place for a mixture of value, demand and a reasonable commute - with an average price of £345,000.

 

 

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