Transport links biggest influence on prices says haart

Posted: 15 Nov 2006 10:19:48 GMT

Being close to a good train or underground link is the single factor most likely to add value to a home, a survey for haart estate agents has claimed

Being close to a good train or underground link is the single factor most likely to add value to a home, a survey for haart estate agents has claimed.

Being within two miles of a mainline train link or tube stop adds around 12 per cent to the value of a property, equivalent to around £20,000, said haart.

In a blow to would-be gentrifiers, the survey added that being close to run down or dilapidated housing would knock the same amount, on average, off the value of a home.

"It is widely known that factors such as good transport links can push property prices up and derelict houses can drag them down, but many homeowners do not realise the extent house prices can be affected," said Russell Jervis of haart.

"For time-starved commuters proximity to excellent transport links is highly desirable, boosting house prices in the immediate area considerably.

"Demand is also immense for family homes in catchment areas of good schools. Parents are willing to pay a premium to secure a place in their chosen school."

Late-licence clubs and bars and takeaways were guaranteed to reduce the value of a home, however.

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