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Bike sheds and cycle paths rival Tube stations and car parking
Miranda Bryant28.10.09
Secure bike storage and proximity to cycle paths are rivalling Tube stations and car parking in determining London's most sought-after properties.
Estate agents have reported a surge in tenants and first-time buyers asking for bike space as cycling's popularity - as well as bike theft - increases.
They said the increase in cycling commuters had transformed the property market, with Dulwich and Greenwich particularly popular.
Stephen Ludlow, director of estate agency Ludlow Thompson, said 20 to 35-year-olds were making homes with bike storage and near cycle paths increasingly important.
"It used to be the case that proximity to a Tube station was critical to rent and house prices. Now that's becoming less decisive. The location of a cycle path can be a stronger selling point to a cyclist than a Tube stop."
Mr Ludlow said Transport for London statistics showed a 107 per cent increase in cycle journeys since 2000 with a nine per cent rise since May last year. But Met figures covering the financial year 2008/09 show 18,218 cycles were stolen, a 1,036 rise on the year before.
Mark Hutton, manager of estate agency Douglas & Gordon in Battersea, said cyclists had prompted a surge in demand for new-build homes as older properties could not accommodate bikes: "People are looking for homes with outdoor sheds, basement car parking or purpose-built blocks with allocated bike parking."
Bradley Martin, of Knight Frank, said a bicycle shed had given the firm "the edge" in marketing a development in Barking: "A bike can cost £4,000 to £7,000 - you can't just leave it outside and insurers won't pay out unless it's in a locked-up area. The bike shed has been a real coup for us in Barking."
Catherine Jesse, 24, of Peckham, said her main reason for moving was so she would have a secure place to keep her bike: "I would only move somewhere in cycling distance of town and work."
I would definitely be drawn by a cycle path nearby'
The patient liaison officer, right, has cycled from Streatham Hill to her work in Camberwell for two years. She said a secure place to store her bike and having work within riding distance would be key criteria as she looked for a new home.
Tubes and buses are not a concern, as long as she can ride to work in less than 30 minutes. She said she would “definitely be drawn by a nice cycle path nearby”.
The 42-year-old added: “Good estate agents really make a point of emphasising bicycle facilities.”
Reader views (8)
I worked with Hackney Cyclists on a project to evaluate the various forms of cycle parking which were suitable for flats - 75% of inner London homes are flats or similar, with car ownership below 50% of households - even in Westminster.
It is easy to spot this and in 1989 Seattle did a review of property advertising - counting the number of times this mentioned 'convenient for the Burke-Gilman (local) Bike Trail' British Waterways did something similar whihc showed that a quality stretch of open water could make a property worth 19%-50% more than a similar house in an ordinary street - from reviewing the property adverts. Mature trees, green space etc all increase the value of property (so whay do developers insist on chopping trees down and paving over everything?
Now new student and rented accommodation includes hundreds of cycle spaces and a handful of car bays, and some serviced apartments are even offering an lease deal, inclusive of a bike!
- Dave Holladay, Glasgow - Scotland
Estate agents will plug anything that will help them get a sale. What next the colour of the lamp posts outside the house ?
- Mr S.Port, London
Anticyclist, Utopia - sounds like you should build a home on the M25. That is a land without cyclists.
- Dom, london
When I moved to my property, I told my estate agent that I wasn't bothered about a garden but I really wanted a garage or somewhere which offered secure, sheltered parking for my bikes as leaving a bike outside eventually ruins it. I don't want to lug the bike indoors as it would cause an obstruction and mess. I therefore completely understand why people want secure, sheletered bike parking.
- Ross, London, England
... how nausiating ...
- Anticyclist, Utopia - a land without cyclists
It goes to show the sustained investment and interest in cycling by our current Mayor is showing physical results on the streets and within Londoners by making these areas more attractive with improved facilities that Londoners can actually use and make their lives easier.
- Sarah, London
Which clever marketing department dreamt this one up?
- Bj, London
Cyclists already have 100% coverage of London ffor bike lanes/paths, they all call them pavements.
- P Staker, London
