Wood & Vale Express: One Tube Stop Costs An Extra 114 In Rent
Wed 31 Jul 2013
Sharp increase between Kilburn Park and Maida Vale
by Alistair Kleebauer
If your Tube journey cost 76 per minute, you would soon be marching angrily to Boris Johnson's office Oyster card in hand.
But that is how much rents go up if you choose to live near to Maida Vale station rather than Kilburn Park - which are separated by just one stop on the Bakerloo line, according to market research.
Website Rentonomy, which offers people tips on entering the lettings market, has found the rise is the highest between any two stations on the Underground.
An average two-bed property costs 355 per week around Kilburn Park.
But travel a minute-and-a-half on the Tube and rent increases to 469 for a similar sized property close to Maida Vale station, according to company's research.
Cllr Paul Dimoldenberg, who represents Queen's Park ward and is leader of the Westminster Labour group, said: "It shows how rents are affecting people's ability to live in Maida Vale and it's ensuring that only the very rich can live in a community that used to be available to people from all walks of life."
Rents increase by 10.90 per minute travelling towards central London on the Bakerloo line, according to the survey.
Only the Victoria line has a higher increase at 11.20 per minute.
Holly Goodge, lettings manager at estate agent Marsh & Parsons Little Venice office, said: "Maida Vale has got the mansion blocks that people tend to want, you've got communal gardens at the back of the properties.
"It's a little bit closer to central London and the properties are a little bit nicer."
Cllr Dimoldenberg said rent costs in the Maida Vale estate in Lanark Road demonstrate further inequalities.
He said: "You've got council tenants paying about 150 a week and private landlords are letting the flat next door, a former council let, for three or four times that."
David Butler, Rentonomy's director of research said: "It's another instance of the patchwork quilt of village areas around London, that have quite different characters right next door to each other."