Nationwide housing market report suggests people value rail proximity

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Nationwide housing market report suggests people value rail proximity

Consumers like to live close to train and tube stations, according to a new Nationwide housing market report, which has not surprised one finance expert from the organisation.

Martin Gahbauer, chief economist at the firm, explained that it is natural for people to want to live close to transport hubs and this is especially true in the capital.

He pointed out that 34 per cent of Londoners use the train or tube to get to work, while the figure for the rest of the country is eight per cent.

The Nationwide housing market report indicated there is a £20,000 premium for living within 500 metres of a rail or underground station.

"London has an extensive network of underground and surface rail lines, which form an important part of the city's infrastructure," noted Mr Gahbauer.

Last week, he highlighted how the Conservative-Liberal Democrat coalition government's emergency Budget has had a significant impact on consumer confidence, both before and after it was announced.

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