The chaos of Southern Rail appears to have affected house prices – as properties near the routes have risen at lower than typical UK levels, research from online estate agent HouseSimple.com shows.
Prices near Southern Rail stations have risen by 2.17% in the past 12 months compared to UK wide growth of 3.9%. In the past three months they have risen by 0.75% compared to 2.4% across the UK.
Alex Gosling, chief executive of HouseSimple.com, said: “For the past 12 months, homeowners have seen the value of their homes stagnate as walkout after walkout by RMT and ASLEF members had a devastating impact on the Southern Rail network.
“It was bad enough that the strikes caused misery for millions of hardworking people, but for those homeowners trying to move, very fewer buyers were willing to commit to a purchase along the Southern Rail routes while the strikes rumbled on.
“While house price growth on Brexit and the aftermath of the General Election, but the ongoing industrial action clearly had a negative impact on local property prices.”
There were a series of Southern Rail strikes last Christmas first from unions RMT and then ASLEF.
ASLEF has called off future strikes but RMT hasn’t, with the latest taking place in November on the issue of driver-only trains and the role of guards.
There are three Southern Rail routes being affected – Brighton Mainline, Mainline West and Mainline East.