London transport links are becoming even more of a priority for buyers
Living in the capital is great. Whether you are a young professional forging your career in the big city, or a seasoned ‘Londoner’ who just loves everything about the metropolitan lifestyle. There is something for everyone. And getting a slice of real estate for yourself in London is a big achievement. If you are able to buy your own place in the city or the surrounding boroughs, you are becoming a part of a very special group of home owners. Something that I like to call ‘Lond-owners’.
In the past, property in London was mainly attractive as owning property in London and working in London where the big money is made was something that a lot of people aspired to. And with this, the importance of good London transport links when looking to buy property became more prominent. If you could buy a flat in Putney and be in central London within 30 minutes…that was the dream for any city professional! Transport links in London are a key component to any residential purchase in the city.
Buying London Property And Transport Links In London
This way of thinking and living continued for many years with introductions of new forms of transport, new tube lines, new rail services, and new bus routes becoming a property for the city of London government and TFL (transport for London). However, in 2020 we saw a huge change that understandably changed London property buyer’s priorities and everyone, including myself, expected it to have a huge impact on transport link preferences when buying in the capital. The COVID-19 pandemic.
We will all be tired of speaking of this at some point, but the effects of the pandemic stretched far. People who previously worked in the city and commuted from their homes in Greater London were forced to work from home. And even after lockdown restrictions eased and eventually disappeared completely, many jobs evolved to be either completely remote or hybrid (work part in the office and part at home).
This shift in the way people work inevitably changed the way that people looked at London transport links when scouting for homes in the city. Many predicted that transport would become less of a priority, with more people focusing on size of property and green spaces. However, this seems to have not been the case. In fact, recent research suggests that London transport links when buying London property has become EVEN MORE of a priority but probably for different reasons.
Good Transport Links And Buying London Property
Obviously there are still thousands of people who still commute to and from the city every day, but for those that work remotely, this isn’t as much of a concern. The thing that people are placing more of a priority on is simply the ease of travelling around London and also in and out of London. People buying property want to know how easy it will be for them to travel from their house around London to see friends, go out on day trips, go out for meals or drinks, and commute (whether part time or full time.)
A particular interest in things like rail services, bus services, and more niche transport such as the Thames Clipper (Uber boat) are all things that prospective buyers are keeping their eyes out for when house hunting. Here are some of the types of transport that London offers and that buyers are looking out for:
Types Of London Transport
Tube
The tube has been the main form of transport for Londoners since the mid 1800’s. An underground train service that is fairly cheap and can get you across the large city in a relatively short period of time. Arguably more of commuter and tourist transport for many, the tube is a great form of transport to get from the leafy suburbs to the hustle and bustle of central London. Research shows that tube links close to property are still a huge priority for buyers and can add thousands or even hundreds of thousands to a property’s value.
Bus
The old reliable! Iconic red London buses have been a staple of London’s transport links for hundreds of years now. Even before the tube! Although probably not as fast as the tube, buses are a great way for people to get around London for a relatively cheap fixed price. Most areas in London also have bus services that run throughout the night, so that you are never stuck. Again, good bus services are a priority for new buyers in the city, but as most areas have multiple bus stops and connections that take you all across the city, it is perhaps not as much of a concern.
Thames Clipper/London River Boat Service
Compared to the other transport services we have already mentioned, this is still a relatively new mode of getting around the city. The river Thames runs across the entire city and you can get from one end of the city to the other fairly easily by taking one of the Thames Clipper’s (Uber Boat) from different points along the river bank. Operated in a similar way to the tube and buses, travellers can tap their card on the terminal at the boat port and travel to anywhere along the river.
For buyers looking to purchase a property close to the river, this form of transport has become very popular. Not just for the convenience but also for the novelty of travelling down the Thames rather than being stuck in traffic on the roads or being stuck on the hot tubes underground! Russel White, head of Winkworth in Putney told me when I interviewed him this year that a large majority of his prospective buyers in Putney ask him and his team about the proximity of the boat port to the house.
Bikes
If you are in to your fitness and want to travel around London, you might want to opt for riding a bike rather than getting the bus or the tube. But what if you don’t own a bike? No worries at all. London offers several services that provide pay-per-minute bike hire at the touch of a button (well scan of an app!). The city’s official bike hire is the Santander Cycles (referred to by many as Boris bikes after the former mayor of London who introduced them).
These bikes have hubs all around where you can easily rent them and return them when you are done. There are also other service such as Lime Bikes and Forest Bikes which can be found propped up on streets across London and can also be rented through an app. Like bus links, bike hires across London are very common and are perhaps not as much of a concern for buyers.
Trains
We already mentioned that there has been a bit of a shift on focus for home buyers from commuting to work to travelling in and out of London for things like day trips or to visit family. Having a decent rail service nearby is something that a lot of people are saying is at the top of their requirement list. A good rail service is reliable and can take you away from London and back with relative ease.
Are Transport Links Important When Buying London Property?
I think that it’s clear from this article that good transport links are quite important for London buyers. The city is huge. And I’m not sure if everyone is completely aware of how big it actually is. If you want to get from one side of the city to the other it can take way over an hour. So if travelling around the city regularly is something that you will most likely be doing, then you should always check the transport links in the local area with your estate agent before committing to buying a property. Although you will likely pay premium for more well connected properties.
On the flip side, if travelling in and around the city is not something that you plan on doing that often, then perhaps transport links won’t be too much of an issue for you. By being just that little bit further away from the tube station, or just that bit further away from the train you could end up saving 10’s of thousands of pounds on property price.
Speak To A London Mortgage Advisor
If you are in that very lucky position to be able to buy a property in London, there are a lot of things to factor in when embarking on your search for a home. With the help of a qualified and experienced London mortgage advisor, you can ensure that you get the dream property with all the amenities that you need. Call or message our team today to arrange a fee free initial mortgage consultation. We are here to help.
