This Blog is directed at Landlords who are interested in property in Falmouth and surrounding area. We aim to keep landlords updated on potential local property investment opportunities as well as give our light-hearted commentary on Property News items that might affect them and their property investment.
Friday, 6 October 2017
The Age of the Train
It might surprise you that it
isn’t always the poshest villages around Falmouth or the swankiest Falmouth
streets where properties sell and let the quickest. Quite often, it’s the ones
that have the best transport links. After all, there is a reason why one
of the most popular property programmes on television is called
Location, Location, Location!
As an agent in Falmouth, I am frequently confronted
with queries about the Falmouth property market, and most days I am
asked, “What is the best part of Falmouth and its villages to live in
these days?”, chiefly from new-comers. The answer is different for each person –
a lot depends on the demographics of their family. By this I mean their age,
schooling requirements and interests. Nonetheless, one of the principal necessities
for most tenants and buyers is ease of access to transport links,
including public transport – of which the railways are very important.
figures recently released indicated that over 1200 people jump on a train each and
every day to and from Falmouth. The convenience of location near a train station is reckoned
to add 1 to 2% on property values and probably more than this for rental
Of greater significance is the future. Rail is becoming
increasingly important as the costs associated with car travel
continue to rise and roads are becoming more and more congested. A standard
season ticket between Falmouth and Truro is little over £500 per year. Relatively
cheap if you are travelling more than 250 commutes a year!
For those of you old enough to remember the 70’s slogan ‘This
is the age of the train’ will be comforted to know that this is set to
continue. Overall usage of the stations at Falmouth has increased over the last
20 years. In 1997, a total of 149,091 people went through the barriers or
connected with another train at the 3 stations in that 12-month period.
However, in 2016, that figure had risen to....
522,606 people using Falmouth stations annually.
The juxtaposition of properties and the train station has an
important effect on the value and saleability and rentability of a Falmouth
property. It is also significant for tenants - so if you are a Falmouth
buy to let investor looking for a property - the distance to and from
the railway station can be extremely significant.
One of the first things house
buyers and tenants do when surfing the web for somewhere to live is find out the
proximity of a property to the train station. That is why Rightmove
displays the distance to the railway station alongside each and every
property on their website.