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Transport is king: Surge in demand for properties close to a station in London

How far are Londoners willing to travel to reach their offices? This question is most relevant to working professionals when picking a neighbourhood and home in the UK capital. With the average commute to central London and the City, where most of the city’s businesses have set base, taking anything between 45 minutes to an hour each way, commuting professionals overwhelmingly prefer properties within walking distance of a Tube station.

Kings Cross Tube station-9

The pandemic-enforced work-from-home policies did alter the preferences of home buyers and renters temporarily, with many opting for homes with proximity to green space and local amenities over proximity to a station. However, as workers in the capital return to the office or switch to hybrid working, there has been a remarkable shift in property trends and rental demand.

The Crossrail effect

Liverpool street station + Crossrail-4

The opening of the Elizabeth Line in May 2022 dramatically changed intra-city travel by reducing commute times to a fraction of what it was before the Crossrail era. Areas such as Hayes and Southall, which were almost an hour and a half away from Liverpool Street, are now close to 20 minutes away. The shortened commute to central London and the City has contributed significantly to the uptick in property demand, prices and rental yield in these neighbourhoods.

In addition to swiftly connecting Essex in the East with Berkshire in the West and saving precious hours of commute to central London, Crossrail has had a massive impact on local property prices. According to research by Nationwide, properties within 500m of a Crossrail or Tube station command a 10% premium compared to properties over a kilometre away. Experienced London developers like Berkeley and Barratt London have incorporated this insight into their project plans by strategically launching multiple developments with a station either on-site or just a few yards away.

Bringing transport to your doorstep

In Southall, where Rightmove reported a 9% growth in property prices over the last year, Crossrail has played a major role in the demand increase. The Green Quarter is one such development that meets the wishlist of residents seeking comfort, tranquillity and quick transport links. In addition to 13 acres of verdant green space and an abundance of lifestyle amenities, this development is located right next Southall Station, from where residents can reach the West End in less than 20 minutes and Heathrow in less than 10 via the Elizabeth line.

Elizabeth Line

Woolwich is another Zone 4 location where proximity to a station is amongst the top preferences for buyers seeking a quick commute to Zone 1/2. Combining the desire for fast transport with riverside living, Royal Arsenal Riverside comes with an on-site Elizabeth Line station from where the business and financial hub of Canary Wharf is just eight minutes away.

Set within five acres of landscaped gardens, yet only 12 minutes away from Bond Street with two adjacent Zone 2 Tube stations is White City Living by Berkeley. Also served by Crossrail is Hayes Village, which is just a short walk away from the Hayes & Harlington Station in Zone 5, 20 minutes away from Paddington. Similarly, Wembley Park Gardens is another example of a strategically located Zone 4 development with an Underground Station at its doorstep, facilitating commute across the Jubilee and Metropolitan lines.

A gateway to opportunities

Living close to a Tube station has more benefits than just a quick commute to work. It reflects a desire for a holistic urban lifestyle. Londoners are seeking a harmonious blend of work, leisure, and cultural experiences, all easily accessible from the doorstep of their homes. As the city expands and evolves, so do the expectations of its residents, and developers are responding to this demand by strategically integrating proximity to transport hubs into their project plans.

Liverpool street station + Crossrail

The implications of this surge in demand are far-reaching, as they influence not only property prices but also the overall urban landscape. Areas once overlooked are experiencing a renaissance, attracting both, investors and those looking to establish a permanent residence. The city’s pulse is shifting, and these properties near stations are becoming the epicentre of a new era in London living.

If you are looking to buy or rent a property close to a station across London, get in touch with us, and we can provide some exceptional property options to suit your lifestyle needs and budget.


About the Author

Established in 1958, Benham and Reeves is one of London’s oldest, independently owned property lettings and sales agents.  With specialism in residential sales, corporate lettings and property management in prime areas of London, the company operates from 21 prominently located branches and 14 international offices.