Selling property in East London or Hertfordshire? How stations are affecting house prices…
Property is always an investment, and when you’re selling, it’s important to get the best return. Even if you’ve just bought property and are not planning to sell for a while, it’s wise to bear in mind how saleable your house will be when the time inevitably comes.
If you’ve lived in the South East for any length of time, you’ll know that the area depends very strongly on its transport network. Whether you’re commuting in from Hertfordshire or jumping on the tube to cross zone 1, public transport is what’s getting you to work, or home, to the airport for your holiday and to countless other places. I do drive, but I couldn’t do without London’s public transport – you probably couldn’t either.
Unsurprisingly, figures show that house prices increase the closer you are to a tube station or an overground station. Sellers can take advantage of this price increase and get a better price than for an identical property a few streets further away from public transport.
How do tube stations affect East London house prices?
Figures from Nationwide show that properties within 500m of a tube station are worth, on average, 10% more than those further away. If you’re planning to move to be nearer to public transport, be prepared to pay for the privilege…but you can also look forward to a good return on your investment.
Impact of overground stations on Hertfordshire and Essex house prices
Dockleys sells properties in Hertfordshire and Essex, including those in Broxbourne, Hoddesdon and Nazeing. Broxbourne, whose station serves residents of all three areas, sees the highest house prices – a clear reflection on the convenience of living within walking distance of a station. And when you consider that you might be cutting your commute by half an hour, it’s worth every penny.
Crossrail 2 – what will it mean for Hertfordshire?
We’ve already seen house prices increase phenomenally in outer London and the Home Counties as the opening of the Elizabeth Line (aka Crossrail) draws near. The same is expected to happen in Broxbourne, which will be the terminus of Crossrail 2 (due to open in 2030). People moving to the area now may be able to take advantage of the development in public transport in the future, while those already living there can feel quietly confident that the value of their home will rise not just with inflation but further because of Crossrail 2.
Sell property in East London and the Home Counties
Whether you live in London itself or you’re planning to move to Essex or Hertfordshire, it’s important to consider both the price and the benefit of living near a station. If it’s time to sell, you could be reaping the benefits of your home’s practical location – call me, Adam Dockley, today on 020 3633 4440 about how to make the most of your property and get the best price.