Night Tube hikes up house prices in Central London
The long-awaited night tube took its first journey over the weekend. Operating on the Central and Victoria lines, the Night Tube is set to bring London closer together, which could in turn, provide a boost for businesses located near tube stations. However on top of businesses’ profits set to sky-rocket, eMoov.co.uk, the award winning online estate agent, is highlighting the need for homeowners, prospective buyers and tenants to keep an eye on house prices due to steep price increases near Warren Street, Oxford Circus and Euston Stations.
The Zone 1 stations provides excellent links to all over London thanks to being on the Victoria and Central Line. And as a result, property prices in the areas increased by an average of seven percent over the last 12 months. Now boasting prices of just over £1.4 million on average, they are some of the most expensive areas in the city.
Russell Quirk, Founder and CEO of eMoov, said, “The Night Tube is incredible news for the City. Bringing a whole host of benefits, the most notable benefit for homeowners is the increase in house prices. Warren Street, Oxford Circus and Euston are three the most famous tube stations thanks to their incredible locations. Providing easy access to Regent’s Park, Madame Tussauds, St Pancras International rail station and the British Library, houses located near these station are ideally-located for people of all ages.”
The average price of a property across the Central line is £858,034, which is £300,000 more than the City of London’s average. And thanks to the three area’s central locations and being within easy reach of some of the country’s most famous landmarks, the areas’ property prices are some of the most expensive in the whole of London.
Plans for the Night Tube were released three years ago. Despite boasting one of the world’s most famous transport services in the world, the London Underground was seemingly lagging behind other countries in terms of offering. However the Night Tube, which will run Fridays and Saturdays between 12:30 and 5:30am, will bring an extended service to the UK’s most populated city and align it with popular cities around the world that already operate all-night metro services, such as New York, Berlin, Sydney and Barcelona.
To find out more about eMoov, visit the website: www.emoov.co.uk
Contact the eMoov media team on firstname.lastname@example.org for exclusive interviews and property insight.
NOTES TO EDITOR
• eMoov is the UK’s most successful and recognised Hybrid Estate Agent offering to sell properties for fees of just £679
• eMoov has sold over 5,000 properties since it launched
• eMoov are backed by VC firm Episode 1
• Russell Quirk is the founder of eMoov and widely recognised by the media for his expertise within the property market
• Russell is a third generation estate agent and after running the family business of 5 independent estate agents he sold them to start eMoov in 2010
• In 2014 and 2015 eMoov won the allagents.co.uk Best Customer Service Award, testament to their approach of being the digital disruptor offering fantastic value and outstanding customer service