One Minute Closer to London Adds Thousands to House Prices

The cost of a home in London's commuter belt rises by £3,000 for every minute the property is closer to the city centre by train, new research has revealed.

The study, carried out by Savills estate agents, analysed 100,000 homes around 314 stations surrounding the capital. It concluded that for each minute less spent on the train into central London, buyers can expect to pay an extra £3,048 to secure the property.

If a quick commute is top of your wish list, consider buying in Oxshott, Surrey, for one of the shortest travel times into the city. But prepare to dig deep – the trade-off for the 30 minute commute is an average selling price of £1.45million.

Sophie Chick, associate director of residential research at Savills, said:

"Whenever I look at commuting analysis, it is a weighing-up of what balance you want in your life, the type of property you want to own, the space you can afford, the time you are willing to spend on the train and the amount you are willing to spend on a season ticket.

"When you're looking at over an hour of commuting, you find people do three or four days in London and work from home the rest of the week, so that outer zone will encourage people looking at a complete lifestyle change."

If you're looking to buy or sell property in London, speak to our team on 020 8297 4414 or complete the enquiry form to the right and we will call you back.

Mandy Peters

Property Solicitors