What Will The 24-hour Tube Mean For London Property Prices?

The Tube is London’s underground. It also has a big say in what happens overground.  

The Tube has been part of this great city for 150 years.

In that time we have had two world wars. We have seen national events that live long in our memories.

We have seen David Beckham racing along the Thames in a speed boat from newport beach boat rental. Deep underground the tube made everything possible – it made London what it is today.

The Tube helps people get around the city. It helps them to do their jobs or go out for a drink at the weekend. Take the Tube away and you have more traffic, even more crowded buses – you just get stuck. The artery gets clogged.  

People are excited by the idea that they can go out at the weekend and have a faster way to get home or go out at night. The young office worker who wants to party at the weekend will soon feel better connected to where he lives.

Instead of taking the bus, the 24-hour tube will make it so much easier for him and his friends to get back to their homes in the city.  

Talk to the people who look after statistics and they will tell you property that is within a five-minute walk of a Tube station can add up to 20 per cent to its value and its rental price.

Talk to the property investors and they are thinking that a 24-hour tube can only push prices up further. People who live by them will be getting a whole new service.

Ask anyone on the New York Subway and they will say, “What’s the big deal?”

In New York, they have an underground train 24 hours a day, 365 days a year. For London though, it is a big deal.

No more crowded buses, no more expensive taxis needed to get to and from wherever they might be travelling after midnight.

But not everyone is excited by the 24-hour Tube. Talk to the people who work on the underground and they will tell you about losing their jobs as the Tube becomes more automated.

These are the sides of the story that you will be hearing a lot about before the Night Tube is launched in 2015.

London’s underground is the oldest in the world. It hasn’t changed much in 150 years but as Winston Churchill the famous leader who kept London going in the Blitz once said, “To improve is to change; to be perfect is to change often.”

Unlike the tube – change and progress won’t come for those who wait.  

What are your thoughts about the 24-hour Tube? I would be interested to hear them.

Kind regards

Brett Tudor
Property Expert

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