London is one of the most expensive cities in the world to buy or rent a property. Many first time buyers and expanding families consider moving away from the capital in order to get on the property ladder or because they need more space.
The process will often start with buyers working out which London station they need to commute to and how long they’re prepared to travel every day. But just how much could be saved the further you go from the capital?
Savills Research has done some nifty analysis of Land Registry data to reveal that commuters could save an average of £3,342 on their house price for every minute of travel away from London. The further buyers move from the capital, and therefore the longer their daily commute, the more affordable the house prices.
For commuters willing to travel for more than 100 minutes every morning and evening, second homes cost on average £196,289 – less than half the average price of homes in the shortest travel time band (19-39 minutes).
Travel
You have to factor in the extra cost of a season ticket, which can be anything up to £14,000 for the furthest commutable stations, but house price savings can be significant. An
interactive map features over 400 stations outside of Greater London, where direct trains into the capital take less than two hours. Click on each spot to find out the season ticket costs, average house prices and other key statistics for each location.
