Statistics from the Office of Rail and Road found that there are 3,043,356 entries in and out of train stations in Tameside every year, but why is that so important to the Tameside Property market?
It might surprise you that it isn’t always the poshest villages around Tameside or the swankiest Tameside streets where properties sell and let the quickest. It may also be surprising that despite how important amenities and local schools are, they are also somewhat overlooked when it comes to choosing a location to live.
Quite often, it’s the ones that have the best transport links.
Whenever I typically discuss with people looking to move into Tameside or landlords and investors looking to invest in the borough, I’m frequently asked where are the specific best areas to live in.
There is no set blanket answer however. As with many aspects in life, it all depends on the individual person’s specific needs, of which Tameside’s property market caters to many.
A lot of my answers will depend on the demographic, be it families looking for schools, young couples looking to be at the heart of bustling town centres or working professionals looking to step out of bed and onto an accessible means of transport to their workplace.
Official figures recently released state that, in total, there are 3,043,356 entries and exists in all of Tameside’s train stations combined annually.
Of those, 1,272,548 are season ticket holders. That’s a lot of money being spent on season tickets, based on travelling into Manchester Piccadilly when you take into consideration the costings:
(It is worth noting that there are no season ticket holders from Denton train station to Manchester Piccadilly).
Based on these facts, an average of £968.33 is being spent by Tamesider’s on annual season tickets. Season tickets don’t come cheap, so it implies that those purchasing them are in relatively good positions to be stable in the Tameside property market.
That means demand for middle to upper market properties remains strong in Tameside and the surrounding area and so, in turn, these are the type of people whom are happy to invest in the Tameside buy to let market – providing homes for the tenants of Tameside.
The bottom line is that property values in Tameside would be much lower, by at least 1% to 2%, if it wasn’t for the ease of accessibility to its railway stations and the people they serve across the borough.
And this isn’t a flash in the pan. Rail is becoming increasingly important as the costs associated with car travel continue to rise and roads are becoming more and more congested. This has resulted in a huge surge in rail travel.
Overall usage of all train stations in Tameside has increased over the last 20 years. At the end of 1998, a total of 1,272,740 people went through the barriers or connected with another train at the stations in that 12-month period. That’s a 139% increase of passengers since then.
The juxtaposition of Tameside properties and Tameside train stations has an important effect on the value and saleability of a Tameside property. It is also significant for tenants – so if you are a Tameside buy to let investor looking for a property – the distance to and from the railway stations 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.
If you are serious about investing or buying property and want to be sure of where is the right area for your particular needs, give me a call on 07709 505 442, or drop your details in the comments below and I’ll be in touch.