If you’re buying property to let out, there are some pros and cons in buying a house or flat that is near a stain station. Commuters may welcome being close to the train station, but could other factors such as noise put tenants off?
Here are some of the key issues to consider:
Pros of properties near train stations
The convenience factor is a big potential plus to any property that’s close to a train station. Currently, around 11% of British workers take the train, and the actual number of train commuters is growing – in 2016-2017 there were an additional billion rail journeys made than was the case in the mid-1990s. Similarly, 2017-2018 saw in increase of 149% in the number of rail journeys taken as compared to 1985-1986. This means that buying a property close to a train line could be a real draw to those who commute by rail.
Reassuringly for commuters in the Wirral, Merseyrail was recently named the Best Performing Regional Rail Operator in the country.
Cons of properties near train stations
There are some potential drawbacks however, with noise being perhaps the most obvious. This could be an issue, particularly when engineering or maintenance works are in progress. Network Rail may also have access rights, and they may be permitted to enter land if urgent repairs are needed, such as for a safety issue or to prevent an accident. The title deed of the property should state any specific details on this.
Another possible problem is on street parking, as those who drive to the station often park in nearby streets to avoid paying to park their car while at work.