Top train stations command 122% house price premium, as Bath Spa rated as the worst
Buying property in areas where train services are rarely cancelled or delayed comes at a significant house price premium, industry insight from eXp UK, the platform for personal estate agents, has revealed. Bath Spa has been rated as the worst of the bunch, as the station's postcode is home to the highest average house price of the top 20 worst performing stations.
eXp UK analysed the top 100 busiest train stations, looking at the cost of climbing the ladder across the postcodes of the top 20 best and worst stations in terms of overall performance - and namely service punctuality and train cancellation frequency.
The results were clear, as near the top 20 stations it costs 122% more to buy property than near the bottom 20.
The average house price across the top 20 busiest stations in the nation comes in at £478,016, with an average performance score of 94%, and an average of just 2% of trains being cancelled. In contrast, on average 7% of trains are cancelled across the top 20 worst stations, with an average performance score of just 77% and an average house price of £215,415.
Top 20 stations very London heavy
Many of the best rated train stations are in London, which serves to pull up the average sold price.
Indeed, 15 of the 20 best stations are in the capital, with the priciest being London Fenchurch Street (£1.62 million), and the cheapest being Barking (£329,000).
Amongst these 20 stations just 1-3% of trains are cancelled.
There are exceptions to London's dominance however.
Moorfields in Liverpool is by far the cheapest region with a strong railway service, where property is priced at £108,000, followed by Glasgow Central, at £177,000, and Norwich, at £208,000.
The worst stations - Manchester and beyond
The station with the worst score is Manchester Oxford Road, where 11% of trains are cancelled and many more are delayed.
Living in that part of Manchester costs £236,000, which is at least affordable compared to many other areas of the country.
Preston has the worst cancellation rate, at 12%, though the city commands an average price of just £131,000.
Living in a wealthy area doesn't guarantee a strong train service, as Bath Spa commands an average price of £457,000, the least affordable on the list of worst performers, while also having a performance score of 76% - one of the worst in the study.
Head of eXp UK, Adam Day, commented:
"It may be tricky to afford to buy property in expensive areas of the UK, but our research suggests that digging deep could provide homebuyers with amore reliable commute.
"That's especially the case in London, where stations outperform much of the rest of the UK in terms of cancellations and delays.
"Seeing as the capital acts as something of a hub of the UK, where many journeys start and end, maybe it's not surprising that London sets the standards when it comes to reliability.
"Not that every area fits that trend, as Glasgow, Norwich, as well as Moorfields in Liverpool, all prove that it's possible to have a reliable commuter service in an area where house prices are relatively affordable."
