Posts with tag: let near railway station

Let Near a Station for Less Voids and Higher Rent

Published On: December 12, 2014 at 3:13 pm


Categories: Property News

Tags: ,,

An interesting new analysis into Britain’s letting market has indicated that around two-thirds of private rental accommodation is within one mile of a railway or underground station.

Younger tenants

In city and town centres where a station is present, information from Countrywide suggests that 40% of younger residents in these towns are unlikely to own a car. The same age demographic are twice as likely to live in private rented accommodation, according to the same figures.[1]


Countrywide believes that the strongest indictor of the desirability of properties close to railway stations is the time taken to let, rather than it’s achieved rent

According to their findings, a property within one mile of a railway station takes an average of 39 days to let. This is on average 6 days less than a home in excess of one mile from a station. The uplift in possible rent achievement between the two is said to be marginal. Countrywide suggest the increase in time taken to let a property more than one mile from a station reflects how far tenants are prepared to walk.[1]

In London, the city where the level of car ownership is the lowest in the UK, homes that are least accessible by location are somewhat unsurprisingly the slowest homes to let.[1]

This said, rental homes directly next to rail stations are not the quickest properties to let. On average, it takes an extra two days to let a property in close proximity to a rail station as opposed to an identical home half a mile away.

60% of new build housing built in the UK during 2014 was within one mile of a railway station, according to Countrywide figures.[1]