Watford properties top London buyers' wish lists
Living near a tube station is the holy grail for Londoners - but the most popular stop for homebuyers isn't even in the capital.
According to a survey from online estate agent eMoov.co.uk, the most in-demand station on the tube network - in terms of the total number of properties sold in comparison to the number on sale - is Watford.
The 78% rating comes despite the fact that the town is outside greater London, in Hertfordshire. But buyers be warned: there are plans to move the tube station to Watford Junction, meaning the area may not stay this popular for long.
The report shows that it's outer London that's really attracting buyers' attention at the moment, with all the top ten property hotspots to be found in zone 5 or beyond.
By contrast, the ten tube stations found to be in least demand were all in zone one. Zone 3 is rising in popularity fastest, with demand up 21%, with zone 4 following with 19%.
Overall, demand for property across London is up 13% since January, with East Ham having seen the biggest climb: up 26% over the last six months.
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Indeed, East London as a whole is shooting up in popularity, with Woodford and Upminster Bridge rising by 25% and 23% respectively.
"Our research shows that the East London property market is on fire at the moment. From city brokers, trendy hipsters to commuting parents, the East offers up a variety of property for every type of homeowner," says eMoov founder and CEO Russell Quirk.
"With great transport links via the Jubilee and Central Lines as well as the development of the Cross Rail project, strength of demand in this areas should remain due to the improving transport infrastructure, as well as the affordability of property when compared to the rest of the capital."
Interestingly, the index showed no difference in demand between those stations set to get a 24-hour service in September's extension to a night time service and those that won't.
And while competition is increasing across London as a whole, some areas are becoming less popular. Demand has fallen by 13% in Chorley Wood, 10% in Mill Hill East and 8% in Northwood, for example.
However, says Quirk: "London continues to be the property investment Mecca, with demand remaining high as people try to get a foot on the ladder, make a return on their investment, or even just secure a small piece of the capital to call their own."
Top 10 Hottest Tube Stops
1st Watford 7 Metropolitan 78%
2nd Eastcote 5 Metropolitan, Piccadilly 77%
3rd Ickenham 6 Metropolitan, Piccadilly 75%
4th West Ruislip 6 Central 75%
5th Ruislip 6 Metropolitan , Piccadilly 75%
6th Ruislip Manor 6 Metropolitan, Piccadilly 75%
7th Pinner 5 Metropolitan 75%
8th Croxley 7 Metropolitan 74%
9th Rayners Lane 5 Metropolitan , Piccadilly 74%
10th Hornchurch 6 District 73%
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