Homes in London are well known for being more expensive than their regional counterparts, often prompting many first-time buyers and young families looking to get a foot on the property ladder make the decision to move out of the capital.
The process will often start with buyers working out which London station they need to commute into and how long a daily journey they’re prepared to make, defining their search destination. But just how much could be saved the further you go from the capital?
Our latest analysis of Land Registry data reveals 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 journey time each day, the more affordable house prices are.
As the table below shows, for commuters willing to travel for more than 100 minutes every morning and evening, second hand homes cost on average £196,289 – less than half the average price of homes in the shortest travel time band (19-39 minutes).
Of course, 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. The interactive map below 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.