355,880 people use Stamford Train Station a year...

How does Stamford Train Station affect
the Stamford Property Market?

 

It might surprise you that it isn’t always the most picturesque villages or the smartest streets where properties sell and let the quickest. Quite often it’s the ones that have the best transport links.

There is a reason why one of the most popular property programmes on television is called ‘Location, Location, Location’!
 

As an agent in Stamford, I am regularly consulted by buyers and property owners and I am often asked where the best parts of Stamford are and which of the surrounding villages are best to live in - chiefly from newcomers to the area.  

Now the answer is different for each person; a lot depends on the demographics of their family, their age, schooling requirements and interests etc., 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.

 Official figures recently released state that, in total, 489 people jump on a train daily from Stamford train station.  Of those, 154 are season ticket holders.  That’s a lot of money when a standard class season ticket to London is £4,276pa.

 So, if up to £658,550 is being spent on rail season tickets each year from Stamford, those commuters must have some impressive jobs and incomes to allow them to afford that season ticket in the first place.  Demand for middle to upper market properties remains strong in Stamford and the surrounding area and so, in turn, these are the type of people whom are happy to invest in the buy-to-let market – providing homes for many residents.

 

Property values in Stamford would be at least 3% - 4% lower

if it wasn’t for the proximity of the railway station.

 
As the costs associated with car travel continue to rise and the already congested roads worsen, rail travel is becoming increasingly important, and this has resulted in a huge surge in rail travel demand.   

Overall, usage of Stamford train station has increased over the last 20 years.  In 1997, a total of 186,863 people went through the barriers or connected with another train at the station in that 12-month period. However, in 2016, that figure had risen to 355,880 people using the station (that’s 978 people a day).

The juxtaposition of the property and the train station has an important effect on the value and saleability of a Stamford property.  It is also significant for tenants, so for a Stamford 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 every property on their website. 

 

 

If you own a property close to Stamford Train Station (in particular properties situated on Gresley Drive, Wothorpe Road, Station Road, Church St/Lane, Wharf Road etc.), please contact me.  We have buy-to-let investors and families very interested in this central location - not to mention tenants searching for their next home!

 

David Crooke  -  01780 484 554
david@upp-property.co.uk

Owner and managing director
Understanding People & Property

SALES & LETTING AGENTS 

Stamford: 01780 484 554  
Rutland:   01572 725 825