Letting agents expect the Night Tube will push up rents near stations on the 24-hour service

Helen Cahill
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The night tube service will open on 19 August (Source: Getty)

Letting agents are predicting there will be rent rises for homes near the tube stations that will be open for 24 hours on weekends as part of London's new Night Tube service.

The service will start on the Central and Victoria lines on 19 August, making it easier for people living in places such as Epping and Walthamstow to avoid a long journey on night buses.

But renters are set to pay the price; a survey conducted by the Association of Residential Letting Agents (ARLA) found one in four members in London and the South East expect rent rises around the stations benefiting from the Night Tube.

Nik Madan, ARLA president, said the Night Tube "could be a double-edged sword for some parts of London".

Read more: 24-hour London worth £43bn to the capital's economy

"Transport links are a major player in influencing demand, and in turn rent costs, so as end-of-the-line areas become better connected, there's a chance we'll see prices rise," Madan said.

According to the Centre for Economic and Business Research and London First, the Night Tube could add £3bn to London's night-time economy and create 1.37m jobs.

Getting the Night Tube up and running has been a long and difficult journey, however, as tube workers protested against the changes and shut down transport networks throughout the capital earlier this year.

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