A YouGov poll of over 2,000 people commissioned by law firm Bircham Dyson Bell shows that contrary to popular perception commuters prioritise good transport links far above potential property hotspots when deciding to move home, with 55% of commuters saying they would consider moving further away from their place of work if transport links were better. 

In stark contrast just 3% cited increasing property value as the most important reason to move to an area.  

The YouGov poll is part of a wider piece of research by Bircham Dyson Bell, Laying the Tracks: How transport infrastructure provides the foundation for property development. The report shows that improved transport links and the development or redevelopment of stations and transport hubs has a galvanising effect on surrounding areas. This acts as a catalyst for property development, says the report, which would otherwise be undeliverable and that development in turn provides some of the essential funding these transport projects require.  

The report shows that improved transport links and the development or redevelopment of stations and transport hubs has a galvanising effect on surrounding areas and acts as a catalyst for property development.

With more than £70bn committed by the government to improving transport infrastructure, the number of transport projects in progress or planned in the UK today is larger in scope than anything seen since the Victorian era. The Laying the Tracks report assesses the economic benefits of past transport projects – from the creation of the Docklands Enterprise Zone to the recently reopened Birmingham New Street Station – and assesses the future potential of major new transport schemes such as HS2 and Crossrail 2. 

Key findings of the research are:

• Demand and use of trains is increasing significantly – in 2014/15 footfall at key stations (Birmingham New Street, King’s Cross, Leeds, St Pancras, Manchester Piccadilly, Manchester Victoria, Birmingham International and Euston ) was up 17% on average since 2011/12. 
• New transport developments will lead to significant reductions in journey times:

- The average time from London to Birmingham will be slashed to 49 minutes

- Travelling to Manchester from the Capital will be achieved in just over one hour

- Leeds to Manchester will take 30 minutes

• The £30bn High Speed 1 has led to the creation of 156,140 properties and over 1,300 properties are being built along the route of the £50.1bn High Speed 2. 
• The positive impact of transport projects on property development cannot be more clearly evidenced than the transformation of King’s Cross. The 67 acre site now has 50 new buildings, 20 new streets and 19,000 new homes, creating one of the strongest locations in Europe for businesses, retail and residential development and creating 25,000 jobs. 
• The new Birmingham New Street station was a £750m project that led to the building of 2,000 extra homes and 14,000 additional jobs being created. Crucially it also opens up the area known as Southside, which is already acting as a catalyst for further schemes to regenerate the area. 
• The £14.8bn Crossrail 1 project in London will create an estimated 57,275 new properties and the even larger Crossrail 2 development – estimated to cost between £27-32bn – will create an estimated 200,000 new properties and uniquely will have over half of its cost met by local funding sources.

The YouGov poll of over 2,000 adults conducted as part of the research found that over half (55%) of commuters would consider moving further away from their place of work if transport links were better. When asked about the most important factors for choosing where to live 38% said quality of life, 19% said proximity to family and friends, and just 3% cited increasing property value in the area.

"Our research shows the indisputable benefits that transport projects can bring to communities and the importance people attach to these links over and above increasing property value."
- Andrew Smith of Bircham Dyson Bell

Commenting on the research, Andrew Smith, head of the real estate team at Bircham Dyson Bell, said: “The symbiotic relationship between new or improved transport links and property development is demonstrated throughout this research. It has shown the indisputable benefits that transport projects can bring to communities and the importance people attach to these links over and above increasing property value.  This is good news for the government when trying to bridge the gap between the North and South and for addressing the housing crisis. 

“Importantly, the research has also shown the financial benefit of the property development that happens as a result of transport projects. Investment in transport infrastructure is clearly at the top of the government’s agenda – most evident in the Northern Powerhouse initiative – however the expenditure required is colossal, and additional streams of funding are becoming essential. The partnerships this research has identified between the private and public sector are not only enabling the tracks to be laid, but are delivering wider benefits to communities through associated property development.”