HOUSE-HUNTERS in London could buy themselves a home about half an hour from the city centre on a salary of just £17,400.
In the capital’s astronomically expensive housing market affordable properties are available on the Central, District and Metropolitan lines.
A new version of the tube map has revealed how much exactly how much you need to live near each underground station.
Shop assistants, nurses, chefs, teachers and bus drivers could bag themselves a one bed home on standard salaries in places like Newbury Park, Oakwood and Croxley. But for prospective buyers looking at London’s Zone 1 then difference in the required salary is staggering – you’ll need an annual pay packet of nearly £250,000 to buy in Knightsbridge.
The new tube map is the work of credit experts TotallyMoney and shows much Londoners must earn to afford a one-bedroom property across London Underground, Overground, and DLR stations.
Researchers looked for the median house price of one-bedroom properties currently available within one kilometre of each station on the map.
They also assumed buyers would have a deposit of 10 per cent and worked out the monthly repayments on a 25 year mortgage.
Finally, the experts factored in how much tax and national insurance would be paid across all tax bands and reached the gross salary you needed to receive to live by each tube station.
So, for example, to live in Angel on the Northern Line, you’d need to be paid a whopping £97,000 a year to buy a one-bed pad there.
But over in the District Line’s Wanstead, prospective one-bed buyers need a salary of £27,300.
Bottom (or top?) of the tube map property list is Newbury Park out on the Hainault Loop on the Central Line.
The station is in Zone 4, with a trip into central London taking around 35 minutes. A peak time adult oyster single fare to zone one is £3.90, or £2.80 off peak. A weekly travelcard is £49.
Located in the borough of Redbridge this is an area with a fast growing and diverse population. At the 2011 census, Newbury Park had a 60 per cent Asian or British Asian population. Valentines Park has a mansion, open spaces, lake, animal corner and aviary. Fairlop Waters boasts an 18 hole gold course, driving range and a lake for windsurfing, sailing and angling.
A small home here could be yours if you’re paid at least £17, 400 a year affordable for many public service workers.
Only a couple of stops away from Newbury Park on the Central Line is Redbridge station, also in Zone 4.
Travel time and costs to the city centre are similar, with the station located in the East London borough of the same name.
Good quality schools, transport links and green spaces are cited as part of the area’s appeal.
Redbridge station itself is not far from the expansive, green Wanstead flats that contributes to area been known as the ‘leafy borough.’
The second most northernly stop on the Piccadilly Line is Oakwood, about a 35 minutes tube into the city centre.
With the Zone 5 station only built in the 1930s, this part of the borough of Enfield is a relatively young north London suburb. Properties in the area are mostly owner-occupied, with a sizeable proportion being private rented.
This is also another green part of London with 10 parks or open spaces.
This is a more affluent part of Enfield, but TotallyMoney’s research shows a salary of £17,600 could get you a one bed property here – well in the reach of teachers, nurses and bus drivers.
A seven day tube travelcard from Oakwood to Zone 1 costs £58.20.
Over in East London is Upney Station, where a salary of £22,300 will allow you to buy a one bed property.
This Zone 4 stop on the District Line can be reached from the city centre in around 35-40 minutes on the tube.
The station is in the Barking area of the relatively small borough of Barking and Dagenham. A seven day travelcard to zone 1 from here costs £49.
It’s a young borough that historically has had high unemployment, lower levels of qualifications and lower life expectancy.
But the Longbridge ward area around Upney Station is on average more wealthy, safer and diverse than