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Home Press releasesProperty marketCommuter belt properties back in vogue as return to the workplace builds

Commuter belt properties back in vogue as return to the workplace builds

Canary Wharf Area ShotsResearch by London estate agent, Benham and Reeves, has revealed how commuting can cut the cost of homeownership, as a slow but steady return to normality puts the London commuter belt back in vogue with homebuyers.

While the pandemic inspired trend of working remotely from bigger homes in the depths of the countryside was nice while it lasted, recent research revealed that 65% of workers plan to return to the office this month.

However, some form of remote working is likely to remain as part and parcel of professional life and Benham and Reeves has revealed where to get the best balance between commuting time and property affordability.

How do commuting times impact house prices?

Analysing house price data from Rightmove and Zoopla across 108 commuter towns with direct transport links to a major London hub, Benham and Reeves found that the average cost of a home within 20 to 29 minutes commute of London currently sits at ÂŁ596,270.

However, a commute of between 30 and 39 minutes sees this average cost fall by -22.6% to ÂŁ461,641 and a further -4.6% to ÂŁ440,361 for those choosing to travel just 40 to 49 minutes outside of the capital.

This mid-range commute certainly seems to be the property market sweet spot where both affordability and journey time are concerned, with property prices across commuter towns requiring a journey of 50 to 59 minutes coming in higher at ÂŁ472,145.

London commuter towns requiring a commute of 60 to 69 minutes are home to an average price of ÂŁ319,071 and while the most affordable, they do require more time sat on the train.

Most affordable commutes

Peterborough ranks as the most affordable commuter location with an average house price of ÂŁ229,604 and a commute just shy of an hour.

Purfleet is home to the quickest commute at the lowest price, coming in at ÂŁ230,550 and sitting just 30 to 39 minutes away from the capital by train. Bletchley also makes the top 10 most affordable with a commute of 30 to 39 minutes, although at ÂŁ276,712 it is less affordable where property prices are concerned.

Wellingborough, Tilbury, Swindon, Pitsea, Northampton and Chatham also make the list of the top 10 most affordable commuter zones, with house prices sitting between ÂŁ230,000 and ÂŁ270,000 with each also just a 40 to 49 minute commute from London.

Director of Benham and Reeves, Marc von Grundherr, commented:

“The London commuter belt has been one of the hottest pockets of the UK property market for years and as transport links to the Capital have improved, the definition of what’s commutable has seen this area of the market grow, boosting property values in the process.

Despite this sustained level of demand, the commuter belt still offers outstanding value for those priced out of the London market and the sweet spot certainly seems to be around a 40 minute commute when it comes to the mix of journey times and property affordability.

While the notion of a move to the sticks to work remotely during the pandemic has been a lovely one, we’re now starting to see momentum build across London and the surrounding areas. After a prolonged period of working from home, many are realising it’s not all it’s cracked up to be and are now returning to the workplace, albeit at a reduced level.

In this respect, the commuter belt should become even more desirable as it provides the ideal mix of affordability, more property for your money, more open and green spaces but with the convenience of a quick commute when it is required.”

Table shows the average house price across commuter towns based on the commute time to a major London transport hub
Commuter Travel Time Category Average House Price Difference to previous commute time Difference vs London UK HPI price
20-29 mins ÂŁ596,270   19.2%
30-39 mins ÂŁ461,641 -22.6% -7.7%
40-49 mins ÂŁ440,361 -4.6% -12.0%
50-59 mins ÂŁ472,145 7.2% -5.6%
60-69 mins ÂŁ319,071 -32.4% -36.2%
London UK HPI ÂŁ500,310 N/A N/A
Data sourced from Rightmove and Zoopla for108 commuter towns with direct commutes to major London transport hubs
Table shows the top 10 most affordable commuter towns based on the average house price
Location Approx Travel Time Average House Price
Peterborough 50-59 mins ÂŁ229,604
Purfleet 30-39 mins ÂŁ230,550
Wellingborough 40-49 mins ÂŁ231,744
Tilbury 40-49 mins ÂŁ242,807
Swindon 50-59 mins ÂŁ258,296
Pitsea 40-49 mins ÂŁ259,854
Northampton 40-49 mins ÂŁ263,470
Chatham 40-49 mins ÂŁ269,952
Rugby 50-59 mins ÂŁ272,332
Bletchley 30-39 mins ÂŁ276,712
Data sourced from Rightmove and Zoopla for 108 commuter towns with direct commutes to major London transport hubs
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About the Author

Established in 1958, Benham and Reeves is one of London’s oldest, independently owned property lettings and sales agents. With specialism in residential sales, corporate lettings and property management in prime areas of London, the company operates from 21 prominently located branches and 14 international offices.

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