A rail booster for house prices

Estate agent Claire Moloney at Radley Rail Station     Picture: OX68636 Damian Halliwell

Estate agent Claire Moloney at Radley Rail Station Picture: OX68636 Damian Halliwell Buy this photo

First published in News The Oxford Times: Photograph of the Author by

HOMEOWNERS near a train station are sitting on a goldmine, with their houses worth tens of thousands more than ones farther away.

Prices in towns or villages with a rail link are 12 per cent higher than those without, research from online estate agent eMoov.co.uk shows.

With average prices at £260,000 in Oxfordshire, that translates into about £30,000.

Claire Moloney of Summertown-based estate agents Pink & Black puts it even higher at 10-15 per cent.

She says houses in Abingdon, which has no station, have an average price of £285 per square foot, compared with £319 for similar ones in the nearby village of Radley, which has a station.

Other areas benefiting from a price-hike thanks to having a railway station include Islip, Charlbury and Goring.But it does not apply to big towns such as Didcot and Bicester, which have large numbers of newly built estate housing, as many househunters prefer to live just outside.

Ms Moloney said: “A lot of people commute to London, so want to be within easy reach of a station.

“Villages around Didcot, such as Long Wittenham, South Moreton, the Brightwells and anywhere within a 15-minute drive are at a premium, as is any village near Bicester.

“Sellers know being near a station adds value to their home and buyers often don’t want to be more than half an hour from a station.”

The price gap is expected to widen as rail travel becomes more popular, fuelled by a number of schemes across the county, including the £130m upgrade at Bicester.

This will see a line between London Marylebone, Bicester town and Water Eaton park and ride, known as Oxford Parkway, open next summer and an Oxford/London Marylebone link added the following year.

But Hugh Jaeger, from rail-user campaign group Railfuture, warned: “Before they buy, people need to bear in mind that different stations have very different levels of service.

“This varies from Charlbury or Hanborough which have virtually an hourly service, to somewhere like Finstock, where there are just two trains a day.”

Mum-of-four Christine Boyd, 67, has lived in Radley for 15 years and said: “Where we live, we can be at the station in less than five minutes and the line goes to many places, including Oxford, Reading, Basingstoke and London.

“The station is a real boon for everybody here.”

Plans for Oxford Parkway at Water Eaton have boosted values in Kidlington, just north of the station. Agents said average prices had risen 15 per cent but were tipped to go much higher when the project is completed.

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Comments (4)

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8:38am Thu 17 Jul 14

Myron Blatz says...

Yes of course they are - and the more 'spin' the estate agents use, the more likely that otherwise un-sellable homes will move off their estate agent windows, and into their piggy-banks! Such 'marketing facts' will no doubt pleaswle the current Tory-led Coalition Government, as it faces massive compensation pay-outs with regard to those living near to the HS2 rail line. You'd have to be covering your eyes not to see the problem, and you'd have to permanently put your fingers in your ears not to hear the problem of living near a rail line, busy main road/motorway, or airport - including military ones. Little wonder, therefore, that (allegedly) estate agents are ranked with double glazing sales people, banking and financial services, utility companies and both local and national politicians as possibly not being people to trust or believe a word they say!
Yes of course they are - and the more 'spin' the estate agents use, the more likely that otherwise un-sellable homes will move off their estate agent windows, and into their piggy-banks! Such 'marketing facts' will no doubt pleaswle the current Tory-led Coalition Government, as it faces massive compensation pay-outs with regard to those living near to the HS2 rail line. You'd have to be covering your eyes not to see the problem, and you'd have to permanently put your fingers in your ears not to hear the problem of living near a rail line, busy main road/motorway, or airport - including military ones. Little wonder, therefore, that (allegedly) estate agents are ranked with double glazing sales people, banking and financial services, utility companies and both local and national politicians as possibly not being people to trust or believe a word they say! Myron Blatz
  • Score: -2

10:10am Thu 17 Jul 14

Danny A says...

Public money spent on infrastructure and the financial benefits go to the landowner who has not lifted a finger! This is a key problem with society as run today, work is discouraged and rent seeking is encouraged. Churchill was aware of the problem one hundred years ago yet the privileged elite, with their vested interests, maintain the inherently unfair arrangement. Land value tax is the only way to go...
Public money spent on infrastructure and the financial benefits go to the landowner who has not lifted a finger! This is a key problem with society as run today, work is discouraged and rent seeking is encouraged. Churchill was aware of the problem one hundred years ago yet the privileged elite, with their vested interests, maintain the inherently unfair arrangement. Land value tax is the only way to go... Danny A
  • Score: -4

10:42am Thu 17 Jul 14

Andrew:Oxford says...

Danny A wrote:
Public money spent on infrastructure and the financial benefits go to the landowner who has not lifted a finger! This is a key problem with society as run today, work is discouraged and rent seeking is encouraged. Churchill was aware of the problem one hundred years ago yet the privileged elite, with their vested interests, maintain the inherently unfair arrangement. Land value tax is the only way to go...
Exactly. All these wealthy land owners will be getting on trains to London then sitting on an underground train driven by a downtrodden tube driver on a basic £52K per year.
[quote][p][bold]Danny A[/bold] wrote: Public money spent on infrastructure and the financial benefits go to the landowner who has not lifted a finger! This is a key problem with society as run today, work is discouraged and rent seeking is encouraged. Churchill was aware of the problem one hundred years ago yet the privileged elite, with their vested interests, maintain the inherently unfair arrangement. Land value tax is the only way to go...[/p][/quote]Exactly. All these wealthy land owners will be getting on trains to London then sitting on an underground train driven by a downtrodden tube driver on a basic £52K per year. Andrew:Oxford
  • Score: 1

9:32pm Thu 17 Jul 14

Madi50n says...

I'm loving this story. I moved to kidlington to reduce my commute to Oxford & for the good primary schools, now my house is going to go up in value much more quickly? Brilliant!
I'm loving this story. I moved to kidlington to reduce my commute to Oxford & for the good primary schools, now my house is going to go up in value much more quickly? Brilliant! Madi50n
  • Score: 2

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