Add £80,000 for a home near Tube

Living close to a Tube station can add up to £80,000 to your property's value, according to a new survey.

It found the cost of homes increases by between £10,000 and £30,000 for every five minutes' walk it is nearer to a station.

The average prices of properties five minutes away was £467,670, while 30 minutes away it was £387,099.

The survey of more than 500 potential buyers in London by Hotproperty.co.uk revealed that only one in eight would consider buying a home more than 30 minutes' walk from a Tube station, the equivalent of about 1.5 miles.

Around one in four said they would walk no more than five minutes to the nearest Tube. A similar proportion were prepared to walk for 10 to 15 minutes.

HotProperty managing director Shawn Luetchens said: "A quarter of potential buyers were unwilling to buy more than five minutes' walk from the Tube.

"Would they change their minds if they considered that just walking an extra five minutes could save them up to £29,000?"