The impact of new or improved tube and train stations on London's housing market can be significant. Opening new stations or improving existing ones leads to increased demand for housing in the surrounding areas, which can drive up property prices.
This is because convenient access to public transportation is a significant factor that many Londoners consider when choosing where to live. Areas close to new or improved stations become more attractive to buyers and renters who want easy access to the rest of the city.
The Crossrail effect has been a hot topic for a lifetime, and buyers who purchased at the right time have enjoyed a considerable uplift in property value. There is a lot to enjoy about living or letting property in a convenient location, but seeing a property enjoy a significant uplift in value is a great feeling for any homeowner.
While Crossrail is a massive project which inevitably dominates thoughts and column inches, it is far from the only example of a localised London housing market benefiting from transport developments.
Similarly, areas that have seen improvements to existing stations, such as the recent upgrades to the Northern Line extension, have also seen a boost in property prices. The extension has made areas like Battersea and Nine Elms more accessible to central London, increasing demand for housing in these areas.
Overall, the impact of new or improved tube and train stations on London's housing market is generally favourable. It can increase demand and higher property prices in the surrounding areas.
This is relevant for Finchley with news of Transport for London proposing "the Superloop". If finalised, this limited-stop bus route will connect North Finchley with Harrow. Of course, the London bus service isn't as exalted as the Underground for its impact on property prices. Still, anything which makes life easier for residents has to be an excellent thing for the local housing and rental market.
Plans for the Superloop are ambitious, but many parts of London need it. Finchley is an excellent place to live, as is seen by the number of tenants looking for property in the local area. This demand, and any infrastructure improvements, make Finchley an ideal location for landlords, and we are more than happy to assist you in the local area.
We have assisted many Finchley landlords connect with tenants, and we know where these groups are looking for rental property. You can take the stress out of connecting with your ideal tenant by turning to a local letting specialist in Finchley.
If you want to make an informed decision in and around Finchley’s letting market, we are here for you. If you have any questions about the local market, or you need assistance, please contact David Harris & Co today. Call us on 0208 346 9122.
