Cycle in and out of House

Just as City Bike in New York, London has their own Santander Bike. This bike-sharing service has been launched for almost 10 years, starting from July 2010 in central London. In 2014, Benham & Reeves, a local residential letting agent, has carried out a survey on whether the introduction of bike-sharing stops in certain areas had a quantifiable impact on rental returns of housing markets. The finding shows that most highly increases in rental returns were in areas where bike stop was no less than 10-minute-walk distance from the nearest public transportation stops. Figures show that rents in London city have risen by an average of 5% since bike-sharing service was introduced, simultaneously there was even a 25% rise in remote area like Sand’s End.

What’s the relationship between bike accessibility and house market? And how correlated are they? Linden Homes, one of the UK’s leading construction companies, believes that some property buyers will value access to good quality cycling infrastructure, which will affect salability and markets of real estate. A famous architectural company — Foster + Partners has developed a great building project located in 250 City Road in London’s Islington district. This development has one cycle parking space per bedroom, totaling 1,486 cycle parking spaces for residents. It’s truly thrilling to believe more and more bike-friendly infrastructures will take more space and play an important role in the future city.

Reference:

Cycling and the Housing Market, published by Transport for London