Insurer’s study finds prices can be lower for some homes near to stations
Being able to almost roll out of bed on to the platform can make the morning commute easier, but research from insurance company Admiral has shown that in some areas, living near a train station can be surprisingly detrimental to house prices.
Admiral’s study of 54,708 homes on property website Zoopla reveals houses within half a mile of Shepherds Bush station, for example, are priced 38.07% lower than those outside the half-mile radius.
Similarly, in South Yorkshire, the 29 properties less than a half-mile from Sheffield train station are 18% lower in value than those further away.
But properties listed within half a mile of a station sell for more than equivalent homes further from stations in 60% of the UK’s regions, while proximity to 23.46% of UK rail stations boosts the value of nearby properties by 1% or greater.
In Woking, prices are 18% higher for homes closer to the station. In London’s Blackfriars, where the average house price is £2.4m, there is a 10.4% hike within a half-mile radius.
The radius tool could be handy for Eye’s next house purchase. But what has more value: lower mortgage repayments or an extra half hour in bed?
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