London buyers continue to pay a significant premium for homes close to transport hubs, according to new research from Nationwide. Properties located just 500 metres from a tube or railway station command an average of £42,700 more than similar homes 1,500 metres away.
The study highlights that despite pandemic-driven changes in working patterns, proximity to stations remains a key factor for London property buyers. More than 80% of Londoners surveyed said being near a station was “fairly important” or “very important” when choosing their home.
In Manchester and Glasgow, around 60% of respondents considered nearby rail or tram services important, reflecting lower reliance on public transport outside London.
Nationwide found that the price premium rises as homes are closer to stations. In London, a property 500 metres from a station carries an 8% higher price compared with one 1,500 metres away, mirroring pre-pandemic levels. In Greater Manchester, the premium is £10,900, while in Glasgow it is £8,800.
Jeremy Leaf, a north London estate agent, noted that the trend for premium prices near stations is returning as office attendance increases following widespread work-from-home arrangements.
Nationwide’s data also shows the average UK home costs £271,000, with London properties averaging £532,500, reinforcing the enduring value of transport access in the capital.
