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.”

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Latest Comments

MBM Homelets
MBM Homelets 23 Mar 2017

Although this is a very positive step, there is little or no guarantee of the standard of workmanship employed by the tenants. We have had experience of a professionally decorated property being ' painted'...

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ajay
ajay 21 Mar 2017

How is the "robust evidence" looking now?

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NathanG
NathanG 20 Mar 2017

I've been watching the series so far and am completely baffled by the cases that were presented. Though, I don't think that we can protect ourselves from every scam possible - it will just make the scammers...

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Landlady14
Landlady14 01 Mar 2017

You would think so Niraj Shah! My experience only proves that there are varying qualitiers of professional in all aspects of property letting. None of the ones I have dealt with, from letting agents to...

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Mark
Mark 01 Mar 2017

Thanks for this article. Hopefully one day everybody's lifestyle will be eco-sustainable.

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Ben Taylor
Ben Taylor 28 Feb 2017

I was convinced that London was the most expensive!

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Alan Read
Alan Read 28 Feb 2017

Australia are leading the way in this I think. The trouble with Britain is we don't get enough sun to make use of solar power.

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James Powell
James Powell 27 Feb 2017

This is a very good news.

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DanHumphreys
DanHumphreys 27 Feb 2017

It sounds like a good idea. Anything to help the younger generation get a foothold.

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Matt
Matt 20 Feb 2017

Is this fake news?

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Matthew Hollywood 07 Feb 2017

Matthew Hollywood - Director Mishon Mackay Land & New Homes - Brighton The shortage of New Homes is in part effected by the lack of land sales. Land sales are held back because there is a disparity between...

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CommercialTrust 30 Jan 2017

Hi Graham, Would be interesting to see the above figure calculated against an investment via a Lt Company /SPV structure and if the investor found themselves pushed in to the higher tax bracket. Mortgage...

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