Does a rail station add value

strawb_shortcake

We will be looking to sell our home some time in the next 12-24 months. We live in a growing village with poor public transport, but there is a high possibility of a rail station being opened in the near future, planning permission granted but not yet guaranteed to be built. There are also increasing amenities too, and our home has a large garden and stunning views.

Is there likely to be a positive impact to the value of my home? A small increase  would mean less borrowing or eating into our savings.

Current I think we'd get £280-300k and house we'd be looking at around £325k based on Current market and we owe £60k 

TY

silvercar

Depends on proximity. Being near but not in earshot is the best of both worlds.

In commuter land it is a definite positive, in rural areas maybe less so. Certainly, putting up with train noise and parking issues is going to be better tolerated in high commuting areas.

lincroft1710

It could be years before the station, if it is ever built. Not really a selling point

eddddy

In London, new Crossrail (Elizabeth Line) stations boosted the value of nearby properties.

But as above, that's because the new stations made those areas more desirable for commuters working in central London.

Will your new station make your village more suitable for people commuting into nearby towns or cities?

zagubov

I remember when they electrified the line between Bedford and St. Pancras ; I seem to recall that house values went up soon afterwards

Section62

annabanana82 said:

Is there likely to be a positive impact to the value of my home?

It depends how useful the station is for commuters in terms of location, type of line, and service pattern.

Once you get out of the suburbs people seem to be Ok with the idea of driving to a station and parking - in some cases passing nearer stations in order to get to one which provides a better/faster/cheaper service.

One of the risks of speculative buying near a proposed station is that final decisions on service patterns may not have been made yet - if the line is a busy one there may not be sufficient capacity for all trains to stop, so it potentially gets a reduced service compared to stations further up or down the line.

daivid

Which line is it on and which if any major cities will be quickly accessible if the station opens? I live near a station on a pretty insignificant rural line. It's handy on occasions but it wouldn’t have made me pay more than a comparable house in the next (station-less) village along. The majority of commuting here is by car so I suspect the train line has limited if any effect on house prices.

strawb_shortcake

We already have good links to the Motorway, so it's already a commuter area. Bristol, Bath, Gloucester, Cheltenham are all popular work locations for locals. 

The station isn't right on our doorstep. I'd say that for the houses in the immediate vicinity it's had a negative impact with houses not being able to be sold but they are going to have a huge change to their outlook and put up with the building works. 

I think its proposed that there would be 1 train an hour? Not much difference to the trains passing through now, just that they'd stop.

AFF8879

Depends on the route / location. Mainline into London or another major city? Should have a huge impact assuming no other station within reasonable walking/driving distance. Single track railway request stop on an already rural line? Probably negligible 

Section62

annabanana82 said:

I think its proposed that there would be 1 train an hour? Not much difference to the trains passing through now, just that they'd stop.

I'd be surprised if a 1tph service makes much difference to house values.... for commuting it only works if the timing fits your journey, and you have the work/life flexibility to cope with missing a train or a train cancellation.

People who have access to a car may find that more convenient - either driving to a different station, or doing the whole commute by car.

lookstraightahead

Yes I think so. So many teens use the rail network for school and college.