House prices slump near Southern Rail lines

Strike chaos puts househunters off

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The chaos caused by strikes on the Southern Rail network is so severe that house-hunters are being put off the region.

Price increases for properties along the operator's nine rail lines have eased off, and have become more than 50% slower in the last six months. Along eight of these lines, prices have risen by less than the national average.

A year ago this month, Southern Rail was voted in the top three worst rail providers by commuters - and a series of strikes has only made things worse. Many commuters are looking to move closer to London.

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But they won't get the price that they might be hoping for. Using data from Zoopla, eMoov has calculated that house prices across England have increased by 7.6% in the last year - but by just 6.5% for those living across the Southern Rail network.

The gap has widened over the last six months, with homeowners across England enjoying an average increase of 3% in property values, compared with just 1.4% in the Southern Rail region.

"This research really highlights the impact external factors can have on a property's value in the market. Often, the close proximity of good commuter links into London, in particular, can help increase the asking price of a property," says founder and CEO of eMoov.co.uk, Russell Quirk.

"In this instance, strike action, poor service, cancelled trains and long delays have had the reverse effect to property prices on the Southern Rail network."

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The worst affected line is Mainline West, where prices have increased by just 5.4% in the last year and just 0.2% in the last six months.

However, things are more encouraging for homeowners along Southern's Redhill line, where prices have increased by more than the average across England both in the last year and the last six months.

Of course, the price stagnation could be good news for anybody looking to move who isn't dependent on a London commute - specially if the exhausted vendor is desperate to sell.

Southern Rail: prices on route fall as unions strike

Southern Rail line: 12 month price change

Brighton Mainline (average house price £581,714): +1.5%
West London (average house price £631,539): +2.2%
Metro (average house price £515,779): +1.4%
Oxted (average house price £562,599): +2.4%
Redhill (average house price £451,353): +3.1%
Mainline West (average house price £386,305): +0.2%
Mainline East (average house price £387,513): +0.7%
Coastway West (average house price £300,065): +0.2%
Coastway East (average house price £304,281):+0.8%



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All Lines (average house price £447,539: +1.4%
England (average house price £281,056):+3%