Living near a Tube station is the holy grail of London living. A new report has looked at how much buyers will need to earn to get a mortgage on an average property close to each of London’s Underground, Overground and DLR stops. We are focusing on Zone 1.
The most expensive Tube stop to buy near is Knightsbridge on the Piccadilly line, where buyers need an average salary of £248,600.
The cheapest tube stop to buy near in Zone 1 is Kings Cross where a buyer needs to earn an average salary of £89.8k.
All ten of the most expensive Tube stations to buy near are in Zone 1 and are out of reach of both the Prime Minister and the Mayor of London if they were using just their government salaries to buy Theresa May and Sadiq Khan earn £153,000 and £143,000 respectively.
The findings are based on the median price of a one-bedroom home within one kilometre of each station, assuming the buyer has a 10 per cent deposit and will spend 40 per cent of their net earnings on mortgage repayments over 25 years.
Below you can view the average salary you need to earn to live near each station in zone 1.