Homes near the best train stations fetch higher prices

New research has uncovered a striking property price gap between homes near the nation’s best and worst-performing train stations.

Findings by estate agents eXP show that 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.

In contrast, across the postcodes of the 20 worst stations for cancellations, where 4.7% of services are cancelled, the average house price drops to £473,840.

Buyers living close to a top-rated station will typically see their property sell for £33,205 more

According to the research, while both groups command a considerable premium compared to the current UK average of £269,735, buyers living close to a top-rated station will typically see their property sell for £33,205 more than those by the worst-performing stations.

Homes in the G1 postcode, home to both Glasgow Central and Glasgow Queen Street, not only benefit from a cancellation rate of just 1.5%, but the average value of a home comes in at just £178,341.

Barking offers another option, with an average price of £294,872 and a cancellation rate of 1.59%, while Edinburgh (£361,998) and Lewisham (£389,529) also boast an average house price below the £400,000 threshold.

In contrast, Vauxhall, Farringdon and St Pancras are not only home to some of the worst cancellation rates in the nation, but each station postcode also boasts an average house price north of £720,000, making them some of the worst stations for potential buyers in search of affordable and reliable rail links.

Transport links are often of vital importance to buyers

Adam Day, head of eXp UK and Europe, said: “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.

“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.”