Night Czar' kickstarts London property price boom
Following the introduction of 24 hour tube services in London, researchers have suggested that London property prices could enjoy a substantial uplift if there is a night-tube station close by. By the end of the year, the Victoria, Central, Jubilee, Northern and Piccadilly lines will be operating for 24 hours a day on Fridays and Saturdays.
Dataloft - one of the UK's most prominent property data companies - is claiming that properties close to stations with night tube services can expect a price increase of upto 10 per cent. They also anticipate a rise in popularity for rental properties in those areas, especially amongst young professionals and students who want to make the most of the capital's nightlife.
London's mayor Sadiq Khan appointed a Night Czar, Amy Lam̩, who has been tasked with developing the role of the night tube and supporting the capitals night-time economy, which is already worth 26.3 billion a year. Ms Lam̩ also ensures that the needs and safety of local residents, who may have concerns over increased noise and disturbance, are properly met.
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"One of Britain۪s most prominent property data companies says homes near London Underground tube stations with 24-hour trains will see a price uplift of as much as 10 per cent."