"Transport links are often of vital importance to buyers, and this naturally means that homes within walking distance of a train station will command considerably more than the national average, even if they happen to be located by one of the worst-performing stations for cancellations"
- Adam Day - eXp UK
Research by self-employed estate agency platform, eXp UK, has found a £33,205 difference in house prices between homes near the nation’s best and worst performing train stations.
The study compared the top 20 best and worst stations based on cancellation rates, analysing the average house prices within each station’s postcode to show how transport reliability affects property values.
Across the 20 best-performing stations, where just 1.85% of trains are cancelled on average, the typical sold price of a home is £507,044. By comparison, the 20 worst stations, with a 4.7% average cancellation rate, have homes selling for £473,840.
While both sets of postcodes command a premium over the UK average of £269,735, proximity to a top-rated station can boost a property’s value by more than £33,000.
The research also identifies areas where reliable rail links are relatively affordable. Homes in Glasgow’s G1 postcode, which includes Glasgow Central and Glasgow Queen Street, benefit from a 1.5% cancellation rate and have an average value of £178,341. Barking offers another option, with an average price of £294,872 and a 1.59% cancellation rate. Edinburgh (£361,998) and Lewisham (£389,529) also have average prices below £400,000, despite reliable rail access.
In contrast, Vauxhall, Farringdon and St Pancras have some of the worst cancellation rates in the country. Their postcodes also feature average house prices above £720,000, making them less attractive to buyers seeking affordable and dependable transport links.
“Transport links are often of vital importance to buyers, and this naturally means that homes within walking distance of a train station will command considerably more than the national average, even if they happen to be located by one of the worst-performing stations for cancellations,” said Adam Day, head of eXp UK and Europe. “However, for those close to one of the best stations, this coveted accolade can push asking price expectations even higher. Arming yourself with the knowledge of such local factors can make all the difference when it comes to negotiating a sale, whether you’re a seller looking to achieve a stronger price or a buyer hoping to negotiate a discount.”
