It might surprise you that it isn’t always the most picturesque villages around Pershore or the most popular Pershore 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 working in Pershore, I am frequently confronted with queries about the Pershore property market. I am often asked, “Which is the best area of Pershore to live in these days?”, chiefly from new-comers. 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.
Recent official figures state that, in total, 138 people jump on a train each and every day from Pershore railway station. Of those, 41 are season ticket holders. That’s a lot of money being spent when a season ticket, standard class, to Gloucester is £3,396 a year.
So, if up to £139,250 is being spent on rail season tickets each year from Pershore, those commuters must have good jobs and incomes to allow them to afford that season ticket in the first place. That means demand for middle to upper market properties remains strong in Pershore and the surrounding area. In turn, these are the type of people who are also likely to invest in the Pershore buy to let market – providing homes for the tenants of Pershore…
The bottom line is that property values in Pershore would likely be lower, if it wasn’t for the proximity of the railway station.
And this isn’t a flash in the pan. Rail travel is becoming increasingly important as the costs associated with car travel continue to rise and roads are becoming more and more congested.
Overall usage of the station at Pershore has increased over the last 20 years. In 1997, a total of 42,127 people went through the platform or connected with another train at the station in that 12-month period. However, in 2016, that figure had risen to 100,690 people using the station (that’s 277 people a day).
The juxtaposition of the property and the train station has an important effect on the value and saleability of a Pershore property. It is also significant for tenants – so if you are a Pershore buy to let investor considering an investment; the distance to and from the railway station can be extremely significant.
One of the first things home buyers and tenants do when surfing the web for somewhere to live is consider how they’ll travel to and from their new home. That is why Rightmove displays the distance to the nearest railway stations alongside every property listing on their website.
If you’re considering a move to (or an investment in) the Pershore area, I would love to hear from you.