On 7th October the night tube service was extended to include the Jubilee Line, and property markets within a close proximity to night tube stations are expected to benefit. This will particularly apply to developments, such Stanmore Place, located in outer London areas that will instantly become more appealing to young professionals who work and socialise in central London.
Selected apartments at the award winning lakeside development are also available under Help-to-Buy London, making Stanmore Place the perfect option for discerning first time buyers keen to take advantage of this trend. All of the help-to-buy apartments are within the Royal Crescent phase, while additional properties with Royal Crescent's latest phase will also be launched on 29th October under help-to-buy.
Buyers always pay a premium to be close to excellent transport links, but developments near underground stations in Zones 3, 4 and 5 are set to benefit in the coming years as young professionals are increasingly priced out of Zones 1 and 2. The Jubilee Line Night Tube has opened up more affordable areas like Stanmore, enabling young professionals to enjoy a lifestyle that allows them to stay out in central London which previously would have only been available to those living in Zones 1 and 2.
Property prices in Stanmore have risen 3%* in the last 12 months, compared with a stagnant market in Zones 1 and 2. The area also offers buy-to-let investors a yield of 4.8%** which is the fourth highest of any property market near an underground station in outer London. However, the best may be yet to come, with some predicting that property prices within half a mile of Night Tube stations will increase 5% to 10%*** above the average rate of growth in the area in the short to medium term. This would be similar to the levels of growth already seen around Crossrail stations.
Stanmore Place is already highly popular with young professionals and first time buyers due to its array of onsite amenities that cater to their busy lifestyles. Residents have access to a gym, a dedicated 24 hour concierge service, car share club and a Business and Innovation Centre. New pedestrian routes and cycle paths link Stanmore Place residents with open spaces along Honey Pot Lane including Canons Park and Stanmore Marsh.
Stanmore Place is just 25 minutes from London's West End and moments' walk from Canons Park Underground Station on the Jubilee Line, which benefits from the new night tube service. Access to the M1 and M25 allows for easy transit to Heathrow and Luton airports. Prices start from £495,000.
* According to eMoov
** According to Portico
*** According to Landlordnews.co.uk