How to find a property hotspot: look out for the Boris bikes

Estate agents are reporting a surge in demand for properties with easy access to the Mayor's cycles for hire. Three main areas have benefited: the City, Angel and Elephant and Castle.

Stephen Ludlow, director of Ludlow Thompson, said: "Demand for properties for rent around docking stations and cycle routes has gone up by about a third in the past year, and has been soaring since the launch of the cycle hire scheme. Our agents have been inundated with questions from prospective tenants about the nearest docking station.

"They have been asking for properties with one on the street or just around the corner."

Tim Hyatt, head of lettings at Knight Frank, added: "Properties that are 10 to 15 minutes from a Tube station would previously have always come second, but now being near a docking station instead could give these ones a run for their money.

"Tenants want minimum hassle. Their attitude is very much in keeping with the bike scheme."

Agents said the scheme, which was launched on 30 July with 315 docking stations, 5,000 machines and 70,000 subscribers, could be improved by expanding it outside Zone 1.

But it emerged this week that the Mayor has delayed his planned extension pending a review of the first phase of the scheme. It has been hit by a series of glitches and TfL and contractor Serco have struggled to cope with demand.

Edward Mead, sales director of Douglas and Gordon in Chelsea, said: "The bikes are so impressive, they will put up rental prices. My only whinge with them at the moment is that they are very much only in the centre."

* Houses and flats for sale in Chelsea

A TfL spokesman said: "Phase two of the hire scheme is being investigated, and TfL is studying ways of expanding the scheme.

"This could include extending it to the east of London in time for the Olympics, and adding to the number of docking stations in the existing cycle hire area."

The cycle stands add rental value'

Landlord David Dodsworth was delighted when two cycle hire docking stations were installed outside his Poplar flat because he believes it has added rental value to his property.

Mr Dodsworth says the Barclays hire scheme and the cycle superhighway near the property are "very attractive" to tenants.

Two years ago Mr Dodsworth and his partner Carol Clayton-Wright rented out the flat for £625 a week. Now they have been advised to let it out for £695 a week.

The 58-year-old artist said: "People who work in the City like the idea of having the bike stands there because if you're in a rush you can easily cycle. Docking stations might even rival proximity to bus stops in the long run."

Prime locations for docking stations

Times Square, Aldgate East
Seraph Court, near Angel
Bermondsey Square, near Tower Bridge
Metro Central Heights, Elephant and Castle
The Lockhouse, Camden
Tabard Square, Borough

* Houses and flats for sale in Aldgate

* Houses and flats for sale in The Angel

* Houses and flats for sale in Elephant and Castle

* Houses and flats for sale in Camden Town

* www.homesandproperty.co.uk