Having a home within half a mile of some railway stations in Scotland can increase the property’s value by 28%.
Scotland is beaten only by properties in London, which increase in value by 64% on average when within half a mile of a station - although in some cases in the capital, being near to a station devalues the house.
Across Britain, nearly a quarter of 81 railway stations surveyed by Admiral Insurance increase the value of nearby properties by 1% or greater.
While London and the South East top the table, properties in the East Midlands, North East, West Midlands and North West decrease in value when within half a mile of a station.
The survey analysed 54,708 homes, of which 6,449 were currently for sale, located within half a mile of 81 stations in December 2022.
The average property value for listings within half a mile was £579,954, which was 10% higher than equivalent properties not located within that radius.
To read the full story, see RAIL 975.
You can subscribe for print/digital access via www.railmagazine.com/subscribe
Login to comment
Comments
Güntürk Üstün - 18/01/2023 22:50
Not only in the charming Scotland but almost each spot in Europe within half a mile of some railway and/or underground stations may incrediably increase the property’s value. What can be said about it? The imposing train world rules for the benefit of humanity! Dr. Güntürk Üstün
D - 26/01/2023 21:11
Aside from in Cambridgeshire, where one of the town "mayors" is protesting against East-West Rail. Apparently a new railway will be detrimental to 10,000 houses that have not even been built yet!