Nationwide survey in London, Manchester and Glasgow shows pandemic trends may be reversing as more people return to office
People buying homes in London 500 metres from a tube or railway station pay £42,700 more than buyers of similar properties 1,500 metres away from transport hubs, according to new data.
The figures indicate that despite the reshaping of the housing market sparked by the coronavirus pandemic and dramatic changes to working patterns, the traditional estate agent mantra of “good transport links” continues to wield its power over buyers.
The study from the Nationwide building society studied the value that buyers and renters place on being close to rail, underground and tram services in London, Manchester and Glasgow.
The data may provide fresh evidence that some of the pandemic-fuelled property market trends have gone into reverse, in part as some white-collar workers gradually return to predominantly working in the office.
