Research: London Commuter Towns
CBRE has crunched the numbers for 150 London commuter hotspots and produced a map of everything you need to know if you are considering leaving the capital
Each year, thousands of people move away from London, seeking lower average house prices and a different lifestyle. Even given the increase of flexible and remote working, many of those new residents will join a cohort of hundreds of thousands travelling to and from London during the week, so connectively remains vital.
With over 150 towns and cities in commuting distance of the capital, there is a huge variety of choice for those wanting to relocate.
If you are just beginning to think about making a move, or want to see how your town compares, property advisory company CBRE has bought together in one place handy information about 150 commuter towns. Our interactive map contains the data about:
- Average property price
- Annual season ticket cost
- Typical travel time to London
- Proportion of detached houses
- Proportion of 'Outstanding' primary schools
Jennet Siebrits, UK head of residential research at CBRE, said: “We looked at nearly 150 commuter towns and villages. The average house price across these locations is £393,570, which is 19% lower than the London average of £488,003. There is wide range to suit different budgets. For example, in Luton the average price is less than half the London average at £229,032. In contrast Beaconsfield has an average price of nearly £831,000.
“There are many factors influencing this range in prices; including access to nature, local amenities, and the quality of schools. But for commuters there is a significant trade-off between property price, travel time and travel cost. We analysed this relationship and found that, on average, a ten-minute increase in travel time reduces the average house price by £21,762. Also, for every for every £100 spent on an annual season ticket, the average house price goes down by £4,179.”
The research also includes a list of the ten towns with the lowest average prices, including Purfleet, Rugby and Colchester, the ten with the highest average prices, and the ten locations that offer good value for money when you take travel times and costs into consideration.
Explore the London commuter towns with our interactive map: https://www.cbreresidential.com/uk/en-GB/content/london-commute-2020-report