The Scottish train stations that add the most value to…

The Scottish train stations that add the most value to local properties

New research has revealed the train stations most likely to increase the value of nearby properties, including two stations in Scotland.

The study, conducted by insurance company Admiral, aims to help prospective property buyers future-proof the value of their investments.

With the base cost of borrowing increasing a record eight times, from 0.25 per cent in January 2022 to its current rate of 3.5 per cent within 12 months, it is important to be aware of factors that may safeguard property values.

The experts at Admiral analysed 54,708 homes, of which 6,449 were listed on the market within 0.5 miles of 81 train stations across the UK. The average property value for listings within 0.5 miles came to £579,954, which is approximately 10.44 per cent greater than equivalent properties not within 0.5 miles of a train station.

Stirling Station was found to have the most significant impact on properties in Scotland, and the fifth biggest in the UK as a whole. According to Admiral, the presence of the station increases the value of properties in a 0.5 mile radius by 5.02 per cent on average.

Following behind, with the sixth biggest impact on nearby property values in the UK, is the train station in Motherwell. According to the study, properties within a 0.5 mile radius are 4.66 per cent more expensive on average.

The train station in Motherwell was also found to have an impact on property prices (Photo © Garry Cornes (cc-by-sa/2.0))

Looking to the UK as a whole, Woking train station in the South East of England was found to have the greatest impact on local property values. Homes within 0.5 miles of the station are worth 17.93 per cent more than equivalent homes further away from the station.

The study also looked at the UK regions most likely to see increased property value on homes within 0.5 miles of a train station. The correlation between property value and proximity to a train station in Scotland was found to be very strong, with a 28.4 per cent average increase.

Scotland was beaten only by London, where properties increase in value by a staggering 63.5 per cent on average when within 0.5 miles of a train station.