Buying a home in London already comes with a hefty price tag—but if you want to be close to a Tube or train station, expect to pay even more.
New research from Nationwide shows that homes within 500 metres (around a six-minute walk) of a station cost on average £42,700 more than similar homes about a kilometre and a half away. That works out to roughly an 8% premium just for the convenience of a shorter walk.
It’s a bigger jump than in other major UK cities. In Manchester, the price lift is around £10,900 (4.9%), while in Glasgow it’s about £8,800 (4.6%).
London’s most expensive and most popular lines
Not all Tube lines are created equal when it comes to property prices.
Homes near Circle line stations are the priciest, averaging £729,000.
On the other hand, properties along the Elizabeth line tend to be cheaper, but the line itself is now considered the most desirable to live near.
Nationwide found that while the Elizabeth line serves more suburban areas—where house prices are typically lower—Londoners see it as a game-changer for commuting across the capital.
Why proximity matters
The study also surveyed 1,000 residents each in London, Manchester, and Glasgow.
80% of Londoners said being near a station was a key factor when choosing a home, compared with around 60% in Manchester and Glasgow.
The main reasons? Faster travel around the city and easier commutes to work.
But affordability still plays a big role. More than half of Londoners admitted they couldn’t afford central locations near stations, so many have been pushed further out into the suburbs—or even beyond London, to places like Reading or Milton Keynes.
Changing work patterns
Experts say remote and hybrid working are easing the pressure.
Mary-Lou Press, president of Propertymark, explained that flexible working models let people move to more affordable areas while keeping their London-based jobs. Photo by Au Morandarte from Chiswick/Romford, London, England, Wikimedia commons.