Tim Hassell of Draker Lettings gives his initial reaction to the night tube and assesses its possible effect of renting in London.
“I expect that the new night tube will benefit all tenants in Central London over time – but in the short term will bring the areas covered by the Victoria and Central lines into focus for more tenants, giving them more value and choice. The extension will enable tenants to rent in farther away areas and still be able to travel safely – especially when socialising on the weekends.
Currently many tenants, especially young international students, will rent in more expensive prime central areas currently covered by Draker because they are seen as being much safer, especially by worrying parents who may be overseas. Having the ability to travel safely at night should allay some of these fears as well as giving more hardy tenants immediately more choice.
The Night Tube – Transport for London
Night Tube services are now running on the Central and Victoria lines, with services on the Jubilee line starting 7 October. Northern and Piccadilly lines will follow in the autumn. The Night Tube will offer a 24-hour service on Fridays and Saturdays.