People buying homes in London 500 metres from a tube or railway station pay £42,700 more than buyers of similar properties 1,500 metres away from transport hubs, according to new data. The extra amount buyers are willing to pay increases the closer to a tube or railway station the property is located. The researchers found that a property situated 500 metres from a station commanded an 8% premium – amounting to about £42,700 based on average prices in London – over an identical or very similar property 1,500 metres from a station. There was a £10,900, or 4.9%, house price premium in Greater Manchester, and an £8,800 premium (4.6%) in Glasgow, on a comparable basis. after newsletter promotionNationwide’s most recent data put the average cost of a UK home at £271,000, and the typical cost of a London property at £532,500.