Night Tube boost to Piccadilly line property prices

Piccadilly line

As the Piccadilly line gears up to be the latest Tube line to enjoy the benefits of the Night Tube on Saturday, new research reveals how property prices have fared along the route.

The line, which has been suffering weeks of travel chaos as a result of repairs to damaged trains, goes through some of the most expensive parts of London – including Knightsbridge, where the average property price is a staggering £3,252,425 and has increased by/ 2% over the past year – according to research by online estate agent eMoov.co.uk.

Other property hotspots on the line are South Kensington (£2,764,684 average property price), Gloucester Road (£2,744,439) and Green Park (£2,151,425).

 

But head west towards Heathrow airport and property becomes much more affordable, with Hounslow East, Hounslow Central and Hounslow West stations all with an average property price of £365,139 – up 8% on 2015. While demand for property across the Piccadilly line is up by 24% on average, it is at its highest at Hatton Cross (+55%), Turnpike Lane (+47%) and Southgate (+43%).

Unsurprisingly, it is in the prime central London where demand is at its lowest – at just 5% in Knightsbridge and Hyde Park Corner.

Russell Quirk, founder and chief executive of eMoov.co.uk, says: “The Piccadilly line has some of the most expensive property in London and the UK, and it is no surprise that the demand is low in these areas. However, as with the majority of London, an exodus of buyers to the outer boroughs has seen demand in these peripheral areas increase. This is sure to see prices follow suit and the addition of a 24-hour tube line will no doubt help with this.”
 

Top 10 Most Expensive    
Station Average Price % Change (1 Year)
Knightsbridge £3,252,425 2%
South Kensington £2,764,684 4%
Gloucester Road £2,744,439 4%
Green Park £2,151,425 -2%
Piccadilly Circus £1,670,621 -2%
Hyde Park Corner £1,653,783 2%
Leicester Square £1,548,473 6%
Covent Garden £1,460,862 5%
Earl's Court £1,213,397 3%
Turnham Green £947,180 1%

 

Top 10 Most Affordable    
Station Average Price % Change (1 Year)
Hounslow East £365,139 8%
Hounslow Central £365,139 8%
Hounslow West £365,139 8%
South Ealing £386,875 -1%
Arsenal £405,000 7%
Osterley £488,008 6%
Wood Green £511,828 6%
Manor House £546,381 4%
Arnos Grove £547,560 6%
Finsbury Park £575,620 6%

Top 10 Most in Demand  
Station Demand %
Hatton Cross 55%
Turnpike Lane 47%
Southgate 43%
Bounds Green 40%
Oakwood 40%
Northfields 39%
South Ealing 36%
Hounslow West 35%
Finsbury Park 34%
Arnos Grove 34%

 

 

 

Top 10 Least in Demand  
Station Demand %
Knightsbridge 5%
Hyde Park Corner 5%
South Kensington 6%
Gloucester Road 8%
Earls Court 8%
Hammersmith 8%
Covent Garden 8%
Piccadilly Circus 10%
Leicester Square 10%
Barons Court 11%

 

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