House prices along London’s Cycle Superhighways are 80% higher than average
With many Londoners now opting for pedal power to avoid the social distancing nightmare of public transport, research by London lettings and estate agent, Benham and Reeves, has revealed the steep cost of buying along one of London’s Cycle Superhighways.
Benham and Reeves analysed the average house price in outcodes straddling each of London’s Cycle Superhighways and how they compare to London as a whole, as well as the wider boroughs bordering these greener transport routes in and out of the city.
The research shows that on average, house prices along all seven Cycle Superhighways averages £874,578, 80% higher than the current average London house price of £485,794. The cost of living along a London Cycle Superhighway also largely exceeds the wider average cost of buying in the boroughs these routes pass through.
The largest cycle property price premium is found along CS3, between Tower Hill and Lancaster Gate. The average house price in outcodes straddling this route currently sits at £1.2m, 149% more than the London average. This is also higher than the average house price in three of the four boroughs the route runs through, with just Kensington and Chelsea coming in above it.
At £1,018,929, the cost of buying along CS5 – Oval to Pimlico comes in ever so marginally more than CS8 – Wandsworth to Westminster (£1,017,777). Both are home to average house prices 110% more than the London average.
At £877,258, the CS6 stretch from King’s Cross to Elephant and Castle is the next most expensive Cycle Superhighway, 81% more than the London average. With Camden the only one of the four boroughs it passes through to see a higher average house price overall.
CS7 – Merton to the City has an average property price of £695,652 along the route, 43% more than the London average, while CS2 – Stratford to Aldgate provides the best homebuyer value along a Cycle Superhighway; although this is still 22% higher than the London average at £591,080.
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Cycle Superhighway
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Route
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Average house price along route*
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Boroughs along route
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Average price of boroughs along route
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Difference to London average (%)
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CS2
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Stratford to Aldgate
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£591,080
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Newham
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£387,326
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22%
|
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Tower Hamlets
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£472,662
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City of London
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£792,583
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||||
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CS3
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Tower Hill to Lancaster Gate
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£1,207,322
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Tower Hamlets
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£472,662
|
149%
|
|
City of London
|
£792,583
|
||||
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City of Westminster
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£1,085,013
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||||
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Kensington and Chelsea
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£1,396,102
|
||||
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CS6
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King’s Cross to Elephant & Castle
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£877,258
|
Camden
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£881,096
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81%
|
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Islington
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£632,270
|
||||
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City of London
|
£792,583
|
||||
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Southwark
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£488,610
|
||||
|
CS5
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Oval to Pimlico
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£1,018,929
|
Lambeth
|
£525,487
|
110%
|
|
City of Westminster
|
£1,085,013
|
||||
|
CS7
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Merton to the City
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£695,652
|
Merton
|
£509,252
|
43%
|
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Wandsworth
|
£624,858
|
||||
|
Lambeth
|
£525,487
|
||||
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Southwark
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£488,610
|
||||
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City of London
|
£792,583
|
||||
|
CS8
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Wandsworth to Westminster
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£1,017,777
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Wandsworth
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£624,858
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110%
|
|
City of Westminster
|
£1,085,013
|
||||
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CS1
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Tottenham to the City
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£714,028
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Haringey
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£565,343
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47%
|
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Hackney
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£638,683
|
||||
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Islington
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£632,270
|
||||
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City of London
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£792,583
|
||||
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Average
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£874,578
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Difference between CS average and London average
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80%
|
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London Average
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£485,794
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*Average house price across all outcodes that each cycle superhighway passes through
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Outcode house price data sourced from PropertyData. London and London borough house price data sourced from Gov.uk.
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