Average house prices across both the Central and Victoria night tube lines is £300,000 more than the London average, according to a study by eMoov.co.uk.
Property values across the Central and Victoria line night service have increased to an average of £883,690 – an annual increase of 3%.
The stations that with the largest increase are Warren Street and Euston, both on the Victoria line, with annual property values up by 8%.
However, Chancery Lane (-6%), Holborn (-5%) and Bank (-5%) have all seen significant falls in value over the last year, with Vauxhall (-0.4%), St Paul’s (-0.1%) and Liverpool Street (-0.1%) also suffering marginal drops.
The price of property across the two lines increased in value over the last year. The average cost of property along the Central night tube line comes in at £858,034, with the Victoria line having an average of £939,812.
Russell Quirk, founder and CEO of eMoov.co.uk, said: “In London in particular, property close by to a good transport link such as an underground station will always command more where price is concerned. In fact, transport links have almost become an additional feature of the property itself and a great bargaining chip during the house selling process.
“The introduction of the night tube service should only help boost the value of the properties surrounding stations due to benefit from the service.”
Tottenham Hale currently has the highest level of demand across night tube stops, at 56%. The Victoria line accounts for the fourth and fifth hottest tube stops at Blackhorse Road (48%) and Seven Sisters (46%).
The stations with the top ten most expensive average house prices are all in zone one. Marble Arch, at £2.5m, is the most expensive tube stop across the service, with Bond Street (£2.3m), Holland Park (£2.3m) and Notting Hill Gate (£2.3m) also exceeding £2m.
The Victoria line has the stops with the lowers average house prices, according to the survey. Average house prices around Tottenham Hale are just £347,389. Blackhorse Road and Walthamstow Central occupy the tenth and ninth most affordable spots.
Quirk added: “The great thing about the underground and the night service itself is that you don’t have to live centrally to benefit, you can live out in Zone 4 or beyond and still benefit, not only from the night tube but the cheaper cost of property.
“Take the likes of Barkingside for example. It is situated on the Central line, has one of the lowest average house prices on the initial night tube network, but is also the seventh highest level of demand and as a result has enjoyed one of the largest price increases over the last year.”