Research by Savills has revealed that buyers in the London commuter belt make huge savings on their property for each additional minute of journey time from London. Data from Land Registry sales from 2015 suggest an average saving of £3,048 per minute.
The research looked at 300 stations outside London on direct commuter lines into the capital, and provides a clear picture of the dramatic drop in average house prices as your travel away from the capital.
Of course, the benefits of commuting may be even greater if you consider the fact that many commuter stations, especially those on the HS1 line, offer journey times that may be equal to or less than the time it takes London residents to travel across the city.
Even taking in to account the increased cost of commuting, savings on house prices in most cases outweigh the travel costs, and many households are deciding now is the time to make the move. Analysis of Savill’s buyers showed that households relocating from London accounted for 30% of all London commuter belt purchases in the first quarter of 2016, compared to 23% for the same period in 2015.
When considered alongside a recent study by Halifax, which found that in many areas of the county, houses earned more each year than their owners, it seems 2016 is an ideal time to invest in Kent!
Posted: Thursday, April 14, 2016
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