More Days In The Office Affecting Buyer Preferences

 

The way we work changed dramatically through Covid. Whilst it seems clear that hybrid work patterns are here to stay, latest rail usage data suggests more of us are going into the office more often.

For the first time since 2020, rail usage is almost back to pre-covid levels (at 98% of pre-covid levels).

Data does vary by transport type and by geography too. Usage is still lower for the London tube (82%) and 86% for London buses. Neither of these have seen an increase this year in line with the rail data.

Survey data also suggests a shift in buyer preferences once more favouring proximity to transport over extra space.

Transport links were ranked as 6th most important, rising 8 places from 2021 and just higher than square footage which dropped to 7th (down from 2nd in 2021).

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What the distance from a station does to the price of your house

Recent research by Nationwide found that buyers in London will pay an average of 10.5% more for a home that is within 500 metres of a tube station, equal to £42,000 on a typical property.

If the walk to the station is just another 250 metres – which should take less than five minutes – the price drops by more than £10,000, while at more than 1,500 metres (around a mile) from the station, the price premium disappears altogether!

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Selling your home in Kent

Whether you live near a mainline station in Kent or not, speak with us to find out how much your property is worth. We’re the estate agent of choice in North Kent so we know what we’re doing and will help you achieve the right price for your property.

Call us 01795 429836 or email hello@quealy.co.uk to chat with a member of our friendly and experienced team about anything to do with moving home. 

You can also use our instant online valuation tool if you just want a ballpark figure of your home's value at this stage: Click here

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Source: Dataloft by PriceHubble, Department for Transport, Market Financial Solutions 2024, Nationwide September 2024.