Property prices are falling along the Southern Rail network as buyers think twice before living on a transport route beset with strikes.
House prices in commuter towns such as Lewes, Wallington and Arundel have been hardest hit by the strikes, with prices falling by 3.6 per cent and 2.5 per cent respectively.
The average house price in Lewes rose to £511,919 in April last year, up by an impressive 12.4 per cent from the average value of £455,478 the year before.
However, after a year of rail strike action and repeated delays, the average price in the area has dropped down to £493,724.
House prices in the market town of Arundel have followed a similar trend. Between 2015 and 2016, the average house price grew by 12 per cent to £454,042. However, in April this year, the average price was down again to £442,837.
Prices in the south east region served by Southern Rail trains as a whole have grown by 3.8 per cent over the past year, down from 10.6 per cent the year before.
|
Rank |
Station(s) |
Value growth from 2015-2016 (%) |
Value growth from 2016-2017 (%) |
Average property value 2015 - 04 (£) |
Average property value 2016 - 04 (£) |
Average property value 2017 - 04 (£) |
|---|---|---|---|---|---|---|
|
Rank 1 |
Station(s) Harrow and Wealdstone |
Value growth from 2015-2016 (%) 16.01 |
Value growth from 2016-2017 (%) -2.51 |
Average property value 2015 - 04 (£) £427,486 |
Average property value 2016 - 04 (£) £495,941 |
Average property value 2017 - 04 (£) £483,479 |
|
Rank 2 |
Station(s) Lewes, Cooksbridge, Glynde |
Value growth from 2015-2016 (%) 12.39 |
Value growth from 2016-2017 (%) -3.55 |
Average property value 2015 - 04 (£) £455,478 |
Average property value 2016 - 04 (£) £511,919 |
Average property value 2017 - 04 (£) £493,724 |
|
Rank 3 |
Station(s) Wallington, Hackbridge |
Value growth from 2015-2016 (%) 16.4 |
Value growth from 2016-2017 (%) 0.69 |
Average property value 2015 - 04 (£) £353,552 |
Average property value 2016 - 04 (£) £411,517 |
Average property value 2017 - 04 (£) £414,366 |
|
Rank 4 |
Station(s) Arundel |
Value growth from 2015-2016 (%) 11.75 |
Value growth from 2016-2017 (%) -2.47 |
Average property value 2015 - 04 (£) £406,316 |
Average property value 2016 - 04 (£) £454,042 |
Average property value 2017 - 04 (£) £442,837 |
|
Rank 5 |
Station(s) Burgess Hill, Wivelsfield |
Value growth from 2015-2016 (%) 13.08 |
Value growth from 2016-2017 (%) 0.15 |
Average property value 2015 - 04 (£) £329,219 |
Average property value 2016 - 04 (£) £372,269 |
Average property value 2017 - 04 (£) £372,810 |
|
Rank 6 |
Station(s) Thornton Heath |
Value growth from 2015-2016 (%) 13.69 |
Value growth from 2016-2017 (%) 0.83 |
Average property value 2015 - 04 (£) £300,344 |
Average property value 2016 - 04 (£) £341,462 |
Average property value 2017 - 04 (£) £344,310 |
|
Rank 7 |
Station(s) East Grinstead |
Value growth from 2015-2016 (%) 10.16 |
Value growth from 2016-2017 (%) -2.69 |
Average property value 2015 - 04 (£) £400,964 |
Average property value 2016 - 04 (£) £441,688 |
Average property value 2017 - 04 (£) £429,794 |
|
Rank 8 |
Station(s) Bosham, Chichester, Fishbourne |
Value growth from 2015-2016 (%) 12.6 |
Value growth from 2016-2017 (%) 0.25 |
Average property value 2015 - 04 (£) £370,955 |
Average property value 2016 - 04 (£) £417,702 |
Average property value 2017 - 04 (£) £418,753 |
|
Rank 9 |
Station(s) Lancing |
Value growth from 2015-2016 (%) 14.05 |
Value growth from 2016-2017 (%) 2.18 |
Average property value 2015 - 04 (£) £240,078 |
Average property value 2016 - 04 (£) £273,798 |
Average property value 2017 - 04 (£) £279,776 |
|
Rank 10 |
Station(s) Tonbridge |
Value growth from 2015-2016 (%) 14.25 |
Value growth from 2016-2017 (%) 2.83 |
Average property value 2015 - 04 (£) £390,327 |
Average property value 2016 - 04 (£) £445,940 |
Average property value 2017 - 04 (£) £458,582 |
Lawrence Hall, spokesperson for Zoopla, said: "The Southern Rail strikes have been well documented over the last year and the ongoing dispute appears to have taken its toll on property values along the line. Growth in values is slowing nationwide year on year, however the South East, and specifically locations along Southern Rail lines, are slowing at a faster rate.
"Whilst values are still rising in popular commuter belt areas, albeit at a slower rate, talk of further strikes may be exacerbating the situation."