Tuesday, 24 October 2017

Commuter? Like to tighten your belt? Look no further

IF you’re a commuter making a move but you’re not sure where you want to live,

IF you’re a commuter making a move but you’re not sure where you want to live, there’s a handy new tool that may just help you make up your mind, writes Lucy Boon.

The Savills interactive map — which can be found on the estate agent’s website — shows the price of commuting from local towns, so it’s great for a spot of “Let’s compare” if you’re choosing between properties in several locations.

Sophie Chick, associate director of Savills Residential Research, said: “Land Registry sales from 2015 suggest that there was an average saving of £3,048 per additional minute of commuter journey time from London.

“Our analysis of over 300 stations outside London, on direct commuter lines into the capital, shows a clear price differential the further you move out of the capital.

“The average house price in inner London is £606,000, but by comparison, commuter locations within half an hour’s train ride from London have an average property price of £458,000.



“Further out, the average price is just £337,000 for those with a journey time between 60 and 69 minutes.”

That said, any house price savings will have to be set against the cost of travelling to work. An annual rail and underground season ticket now costs from a few thousand pounds up to as much as £10,000 depending on where you live, your local train operating company, and the length of your journey.

Despite this, you can still save money in the long run, as savings on house prices will usually outweigh travel costs. For the Henley market, a breakdown of the main need-to-know information (according to Savills) is on the right.

But for more information and a wider area search, you can visit www.savills.co.uk/blog/article/200796/residential-property/commuters-save-3k-on-property-per-minute-of-journey-time-to-london.aspx



Henley

• London mainline station: London Paddington

• Travel time in minutes (2016): 45

• Season ticket cost including travelcard (2016): £4,396

• Number of entries and exits (2014-15): 771,406

• Proportion of season ticket holders (2014-15): 37 per cent

• Average secondhand sale price within two kilometres of the station: £569,000

• Average secondhand detached sale price within two kilometres of the station: £944,000

• Five-year change in average sale price: 33 per cent



Shiplake

• London mainline station: London Paddington

• Travel time in minutes (2016): 41

• Season ticket cost including travelcard (2016): £4,352

• Number of entries and exits (2014-15): 92,580

• Proportion of season ticket holders (2014-15): 47 per cent

• Average secondhand sale price within two kilometres of the station: £1,001,000

• Average secondhand detached sale price within two kilometres of the station: £1,203,000

• Five-year change in average sale price: 25 per cent



Wargrave

• London mainline station: London Paddington

•Travel time in minutes (2016): 38

• Season ticket cost including travelcard (2016): £4,332

• Number of entries and exits (2014-15): 95,910

• Proportion of season ticket holders (2014-15): 56 per cent

• Average secondhand sale price within two kilometres of the station: £780,000

• Average secondhand detached sale price within two kilometres of the station: £1,067,000

• Five-year change in average sale price: 20 per cent



Twyford

• London mainline station: London Paddington

• Travel time in minutes (2016): 33

• Season ticket cost including travelcard (2016): £4,236

• Number of entries and exits (2014-15): 1,369,126

• Proportion of season ticket holders (2014-15): 43 per cent

• Average secondhand sale price within two kilometres of the station: £423,000

• Average secondhand detached sale price within two kilometres of the station: £551,000

• Five-year change in average sale price: 31 per cent



Reading West

• London mainline station: London Paddington

• Travel time in minutes (2016): 25

• Season ticket cost including travelcard (2016): £5,024

• Number of entries and exits (2014-15): 385,332

• Proportion of season ticket holders (2014-15): 38 per cent

• Average secondhand sale price within two kilometres of the station: £258,000

• Average secondhand detached sale price within two kilometres of the station: £585,000

• Five-year change in average sale price: 27 per cent



Maidenhead

• London mainline station: London Paddington

• Travel time in minutes (2016): 24

• Season ticket cost including travelcard (2016): £3,728

• Number of entries and exits, (2014-15): 4,307,576

• Proportion of season ticket holders (2014-15): 44 per cent

• Average secondhand sale price within two kilometres of the station: £404,000

• Average secondhand detached sale price within two kilometres of the station: £648,000

• Five-year change in average sale price: 28 per cent



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