By Christina O,Christina O’Neill

Copyright stv

Homebuyers in Glasgow are paying almost £9,000 extra to live within walking distance of a rail or subway station, research suggests.

Nationwide Building Society found properties located 500 metres from a station in the Greater Glasgow area cost on average £8,800 – or 4.6% – more than similar homes 1,500 metres away.

The premium is lower than the 7.2% recorded in Nationwide’s 2021 study but underlines the value buyers continue to place on transport links.

Meanwhile, London home buyers face paying a £42,700 premium typically to buy a property 500 metres from the nearest station. In Greater Manchester, the average house price premium for being close to a station was £10,900.

The analysis covered Glasgow City, Inverclyde, West Dunbartonshire, East Dunbartonshire, East Renfrewshire, Renfrewshire, South Lanarkshire and North Lanarkshire, taking into account both National Rail and Glasgow Subway stations.

Andrew Harvey, Nationwide’s senior economist, said: “Our recent market research confirms that transport links remain important to those living in major cities, with over 80% of Londoners saying being near a station was either ‘fairly important’ or ‘very important’ when choosing to buy or rent their current property. Meanwhile, in Glasgow and Manchester, around 60% of respondents stated being near a station was either ‘fairly’ or ‘very important’.

“This is likely to reflect that those living in London typically use their local station more often, with nearly 60% using either rail or Tube more than once a week. This compares with 37% in Glasgow (for rail and subway) and 35% in Manchester (for rail and Metrolink).”

Nationwide’s survey of 3,000 people – 1,000 each in London, Manchester and Glasgow – found most residents live within a half-hour walk of a station. Two-thirds of Glaswegians said they were within a 20-minute walk.

Respondents cited faster travel around the city and easier commutes as the main reasons for choosing a home near a station. One in ten said they did not own or want a car.

Affordability pressures remain a factor – with 40% of people in Glasgow saying they had to move further from the city centre to find a home near a station.

Glasgow has the largest suburban rail network outside London, with around 155 railway stations across the wider region and 15 subway stops in the city centre. Census data shows people in Glasgow and surrounding areas are more likely to use trains for commuting than elsewhere in Scotland.

Mary-Lou Press, president of NAEA (National Association of Estate Agents) Propertymark, said: “Good schools, access to better transport links and ideal local social environments are key for many people when looking to move.

“Changing work habits, particularly the rise of remote and hybrid working, have made relocating a much more realistic option for many people.

“These flexible models enable individuals to move to more affordable areas or places offering a better quality of life, all while keeping their current jobs.”