A new study has revealed that proximity to Woking train station can increase property prices by more than 15 per cent - more than anywhere else in the UK.

The research, which was carried out by Admiral, analysed 54,708 homes across the country, with 6,449 of those being within half a mile of a train station.

Woking train station was judged to have the biggest impact on nearby property prices, with homes close to the station costing an average of 17.93 per cent more than properties that were further away.

This is more than seven per cent higher than the next station on the list, Blackfriars in London, where nearby properties cost 10.46 per cent higher than that region’s average.

Across the UK, homes within half a mile of a train station cost an average of £579,954, which is 10.44 per cent higher than those not within that radius.

In some regions - the East Midlands, the North East, the West Midlands and the North West - proximity to a train station decreases the price of a property.

However, the research showed that in 60 per cent of regions, property prices did increase when they were within half a mile of a train station.

Admiral explained: “With the base cost of borrowing increasing a record eight times, from 0.25 per cent in January 2022 to its current rate of 3.5 per cent within 12 months, many homeowners are having to sell up at discounted prices.

“This unprecedented volatility got Admiral thinking about how prospective property buyers could look to future-proof the value of their investments and whether there are any factors which seem to safeguard property values against external factors, such as a sharp fall in market demand as seen in 2022.

“Our research led us to the timeless issue of transport connectivity – whether you’re looking to buy near the Lake District or the suburbs of Greater London, proximity to a train station is viewed as vital.”