Analysis by property portal Boomin claims that rental properties on cycle lanes in London are showing premium returns above those of comparable homes away from designated routes.
London has six main cycle routes that provide safer passage for cyclists passing through 14 London boroughs and a total of 43 different postcodes.
Boomin analysed both the average house price and the average rent across all 43 postcodes to find the current cost of living within arm’s reach of a major London cycle route.
This was then compared to the wider average house price and rent for the boroughs that these routes pass through, to see just how much more it costs to live close to a major cycle route.
On average, the cost of renting close to a cycle superhighway into the city sits at £2,157 per month, £353 (20 per cent) higher than the current London average of £1,804 per month.
The route between Kentish Town and Elephant and Castle is home to the highest rental price premium, with the average rent across postcodes on the route sitting at £2,413 per month - £619 (35 per cent) higher per month.
The route between Tower Hill and Lancaster Gate is home to the next highest rental price premium at £465 per month, followed by Wandsworth to Westminster (£379), Stratford to Aldgate (£246), Merton to the City (£228) and finally Tottenham to the City (£227).
“Cycling is perhaps the best way to traverse the capital, particularly for those heading to and from work … However, renting or buying close to one of these major routes will come at a greater cost, but while this may eradicate the money saved on a travel card, you can still reap the other rewards that a more active lifestyle will bring” says Michael Bruce, Boomin founder.
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