January 10th 2025.
Have you ever thought about how much your fellow commuters are shelling out each month for their mortgages? Well, a recent study has revealed the tube lines in London with the highest monthly payments.
No surprises here, the Waterloo and City line takes the top spot with an average payment of £5,632 per month. This line, also known as 'The Drain' among locals, only has two stops - Waterloo and Bank - both located in zone 1. The journey between the two stops takes only four minutes, which has led to some disgruntled Redditors labeling it as 'useless.'
But why was this line built in the first place, you may ask? Well, back in the late 1800s, a survey showed that 12,000 people per day needed to travel from Waterloo to the City. And so, in 1894, construction began on this short but sweet tube line, which was officially opened by Prince George, the Duke of Cambridge, in 1898.
Now, let's talk numbers. According to data from estate agent Foxtons, the average property price in Waterloo is a staggering £925,714, with some properties going for as high as £2,350,000. It's no wonder that this line is the most expensive in terms of mortgages.
Coming in second is the Circle line, with an average monthly payment of £5,323. And despite its reputation for being hot and noisy, the Victoria line takes third place with a monthly cost of £4,027. This line passes through different areas with varying property prices, from Walthamstow Central to Highbury and Islington and Pimlico.
But there is some good news for commuters on the Northern and District lines, with average monthly payments of £3,894 and £3,891 respectively, according to new data from mortgage advisor Alexander Hall. However, the District line has the largest gap between the most and least affordable stations, with a whopping difference of £8,248 per month between High Street Kensington and Upney.
Now, for those looking for more affordable mortgages, the Elizabeth line is the place to be. This line has an average monthly payment of £2,610, making it the most affordable among all the tube lines.
In light of this, it's no surprise that London's property market remains strong, with Stephanie Daley, director of partnerships at Alexander Hall, stating that the capital has the highest property prices in the UK.
But fear not, Londoners, our reliable transport system can be a saving grace when it comes to finding more affordable mortgages. As Stephanie explains, even moving just one or two stops along the tube line can make a significant difference in the cost of your mortgage. So don't be afraid to look beyond your ideal destination and consider other areas along the tube line.
Do you have a story to share about your mortgage journey? Get in touch by emailing us at email. We'd love to hear from you. And for all the latest news from London, be sure to check out Metro's London news hub.
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