This is the extra mile home buyers will go to be near a station…

A study by Nationwide researched what premium a property could attract depending on its accessibility to a train station or metro in London, Manchester and Glasgow.

The premium was calculated after taking account of other property features, including property type – whether detached, a new-build or period – number of bedrooms and local neighbourhood.

Pavement premium in London up to £42,900

Unsurprisingly, the findings revealed that London property within 500 metres of a station can command an extra £42,900, equating to a 9.4% premium. Properties situated 750 metres away carry a premium of 6.6% and 1,000 metres from a station attracts a premium of 4.1% premium.

The study’s analysis shows that London has the densest network of stations and services, with 94% of properties lying within 1.5 kilometres of a station. Only 6% of the capital’s homes are further than 1,500 metres away from an underground or rail station, with outer suburbs accounting for the majority of this number.

Excluding the City of London, Camden, Tower Hamlets and Kensington and Chelsea are among the best connected boroughs, with around 75% of properties within 500 metres of a station.

On a comparable basis to the factors used to assess London, Greater Manchester was found to carry a £12,600 premium for a similar property 1.5 kilometres away from both metro and rail links, while in Glasgow buyers will expect to pay £5,700 extra.

Glasgow has the largest network of suburban railway lines in the UK outside of London. The area covered by the Strathclyde Partnership for Transport (SPT) includes around 185 railway stations with a further 15 subway stations in Glasgow city centre. The city has a 72% density of transport networks.

However, buyers in Glasgow are more reluctant to pay a premium to be close to a railway or subway station. A property located 500 metres from a station attracts a 3.8% price premium over an identical property 1,500 metres from a station.

Greater Manchester seen strongest growth among England’s light rail and tram systems

In Manchester, like London, buyers will pay more to be near a Metro or railway station. A property located 500 metres from a station attracts a 7.8% price premium over an otherwise identical property 1,500 metres from a station.

Greater Manchester is served by an extensive network extending to 70% of railway and tram lines. Considerable expansion of the Metrolink network to Manchester Airport and the opening of the Second City Crossing has seen Metrolink passenger numbers rise by 9% in 2017/2018.

Andrew Harvey, Nationwide’s senior economist, said: “The study looked at how the proximity to either a metro or railway station impacted property prices in London, Manchester and Glasgow.

“London homebuyers appear willing to pay a greater premium for being close to a station compared with those in Greater Manchester and Glasgow. This probably reflects the greater reliance on public transport in the capital, with residents less likely to drive.”

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:


Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment


Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:


+44 (0) 333 123 0320

Open from 9am-6pm GMT


+852 6699 9008

Open from 9am-6pm HKT