As the new date for the opening of the Night Tube has been announced it’s good news for sellers with properties along the Victoria, Central, Jubilee, Northern and Piccadilly lines. Once it’s up and running the line is expected to give a boost to property prices, especially those targeted at the younger demographic.
Beginning in August, two of London’s tube lines will become fully 24-hour lines, with a further four lines launching in the autumn. This is expected to increase the popularity and demand for properties within a close proximity to these lines.
Location near key transport hubs and infrastructure projects is often an important factor in London’s housing market. We have already seen this effect with new developments such as the cycle superhighway and Crossrail (now known as the Elizabeth Line), with buyers are often willing to pay a premium price in order to be close to key stations and other transport hubs.
Stephen Ludlow, Chairman at ludlowthompson, comments: “It has taken a while, but the Night Tube finally looks set to become a reality. Sellers near these lines should recognise the positive impact this has on their property prices.”
“As with any new transport development, Londoners will be keen to live in an area where their commute at any time of the day can be made with ease.”
“The areas with easy access to the Night Tube are also likely to see increased demand from young professionals. The idea that it is just as easy to get home from a night out on a Friday as it is to get into work in the morning will be a very attractive proposition for some and cements London’s position as a truly 24-hour city.”