Ashford’s high-speed rail link, the UK’s only domestic high-speed rail service, is five years old in December and continues to be a massive draw for property buyers. The ever-expanding Kent town is attracting home-hunters from both London and other traditional commuter hubs.
The service has proved to be a big pull for those looking to buy, with the High Speed 1 trains (launched in December 2009 and reaching maximum speeds of 140mph) slashing journey times from Ashford to London to just 38 minutes.
Five years down the line, the service is now luring a steady flow of London property buyers eager to take advantage of Ashford’s attractive house prices.
Alex Davies, Head of Country Houses at Hobbs Parker estate agents, believes HS1 is a key factor for property buyers: “As confidence has come back into the property market in East Kent we are seeing continued interest in HS1 from buyers. The train is a constant in many of our enquiries, especially from people looking to move into the area and with a need or interest in travelling into London regularly.”
He added: “Interestingly, the spectrum of buyers is broader than many predicted when HS1 launched. We are seeing more people who may only need access to London on an irregular basis, from self-employed professionals working mainly from home, to concert musicians, television producers and advertising executives, as well as the newly retired keen to tap into London's culture.”
Kevin Hall, Director of Martin & Co Ashford, concurs with the idea that HS1 has been a massive enticement for property buyers. “Having a clean, efficient train service that can get into the heart of London in 38 minutes provides a real alternative to people who previously thought they needed to endure stuffy tube journeys from overpriced London properties,” he commented.
“We are seeing a broad spectrum of potential buyers from London plus we're being approached by investors who either cannot or do not want to pay London prices. Of course the returns here are much higher and there is less risk given the recent reports of a dangerous property price bubble in London. Buyers are certainly surprised what they can get for their money.”
He also said that Londoners and others view Ashford as a place where a better work-life balance is attainable, mostly thanks to the shorter commute time offered by HS1. Discussing the effect high speed rail has had on house prices, Hall added: “Unlike many surrounding towns, Ashford is growing rapidly so ordinarily this would increase supply and have a negative impact on prices. Despite this, demand is still strong so prices are climbing. The overall effect however is that Ashford remains affordable.”
The high level of investment and development in the town at present, supported by the local council’s pro-growth policies, is also helping to keep demand high, Hall concluded.
According to train operator Southeastern, which is planning to expand the high-speed service in 2015, more than 70% of journeys from Ashford are now made on high-speed trains.
“High-speed has been a really transformational service for rail passengers in East Kent,” Richard Dean, Southeastern’s Train Services Director, said. “Its introduction had an impact throughout the region by encouraging more visitors to come to Kent, providing benefits to businesses and by freeing capacity on mainline services as long-distance commuters have moved onto the high-speed trains.”
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