House price growth slows across Southern Rail Network

House price growth slows across Southern Rail Network
Strike action, poor service, cancelled trains and long delays have had the reverse effect to property prices on the Southern Rail network

The latest research from eMoov.co.uk, has found that house price growth across the Southern Rail network has increased at a slower rate than England as a whole.

A year ago this month Southern Rail was voted in the top three worst rail providers by commuters. Since then they have undoubtedly become Britain’s most hated with commuters unlucky enough to rely on their service subject to nine months of commuting chaos.
Some employers have already refused applicants using a Southern Rail service as the reality is that they will often arrive to work late.

But not only are commuters’ professional lives being impacted, it would seem property prices along Southern Rail commuter lines are also suffering.

Using data from Zoopla, eMoov collected the average price paid and value change surrounding each station across all nine of the Southern Rail network lines. The research looked at the price growth over the last 12 months, as well as the last six, comparing each line on Southern Rail and the network as a whole, to price growth across England during the same time periods.

The research by eMoov shows that house prices across England have increased by 7.6% in the last year. But for those living across the Southern Rail network, property price growth reached just 6.5% in the same period.

More notable is the difference in growth in the last six months alone. Across England, homeowners enjoyed an average increase of 3% in property values. But those unfortunate enough to live on the Southern Rail network saw the average property price growth fall by more than half, increasing by just 1.4% overall.


But the salt in the wound is the cost of the property itself. With an average price of £447,539 across the Southern Rail network, homeowners are paying above the odds for their property, only for its potential to be blighted by an external factor such as an inadequate train operator.

The worst affected line is Mainline West where prices have increased by just 5.4% in the last year and just 0.2% in the last six months. There is hope for homeowners on Southern’s Redhill line, with prices having increased by more than the average across England both in the last year (7.9%) and the last six months (3.1%).

Russell Quirk, founder and CEO of eMoov.co.uk, commented: “This research really highlights the impact external factors can have on a property’s value in the market. Often, the close proximity of good commuter links into London, in particular, can help increase the asking price of a property.

In this instance, strike action, poor service, cancelled trains and long delays have had the reverse effect to property prices on the Southern Rail network. It is worrying to think that something outside of your control can not only be detrimental to your work life but can also spill over into your personal life as well.

Southern Rail staff must forgive UK homeowners for remaining unsympathetic to their cause when their selfish actions are inadvertently depreciating the most expensive asset they are ever likely to own.”

Join our mailing list:

Leave a comment



Latest Comments

Tony Gimple
Tony Gimple 16 Jan 2017

HMOs do make great commercial sense, but do the area research first!

view article
OJoyce
OJoyce 30 Dec 2016

We can only hope this will bring the results we all want and strive for.

view article
Reality
Reality 21 Dec 2016

The changes to land tax were a shock to many when it was first announced by the Chancellor in 2015?s Autumn Statement. However, once the changes came into place and the full details were digested, it?s...

view article
akbar ali dayala
akbar ali dayala 20 Dec 2016

I am a landlord and director of an online letting agents at the moment we charge tenants minimal fees and landlord also meaning we can get best deals for tenants all around if the ban comes in it...

view article
milessgabriel
milessgabriel 05 Dec 2016

Useful article

view article
Spencer Fortag
Spencer Fortag 30 Nov 2016

I am glad that someone listened to me!

view article
Tony Gimple
Tony Gimple 27 Nov 2016

It's not just the lack of estate agency advice that's costing landlords money; most are getting seriously bad advice from their accountants resulting in tax bills far higher than they need to be. Likewise,...

view article
Sally Walmsley
Sally Walmsley 18 Nov 2016

The RLA stands by its sell-off statistics. While we welcome the feedback from Mr Jagota and are delighted to hear how well things are going for landlords in the north east, we would like to make it clear...

view article
Sheryl87
Sheryl87 18 Nov 2016

The high employment levels and the vibrant economy has led to ever-increasing demand for rental properties, especially from professionals relocations from other cities. This has led to more experts teaming...

view article
Sheryl87
Sheryl87 18 Nov 2016

Renting out your house can be risky business. It's good to think about residential landlords insurance. Standard cover includes buildings cover and cover for loss of rent following damage to a property...

view article
AmberMorris
AmberMorris 09 Nov 2016

Fear of ghosts, really?? Ok, I get the fear of bats in the attic and mice and rats running under your nose - those are easy to deal with pest issues which are really unpleasant and can turn you off. But...

view article
AmberMorris
AmberMorris 08 Nov 2016

In my experience, It has always been a matter of discussion between the landlord and the tenant. There are cases when it's clear who's responsible for the pest control costs. I see a lot of people in forums...

view article

Related stories

More articles from Property

Specialist Lending Roadshow 2017

24th-27th January

4 days
7 specialists
4 locations
Free to attend

Click here to register now