New stats show that for every minute you sit on a train, house prices fall by thousands. Better buy a good book!
Here’s another incrediby depressing fact about the London property market: The price of a house falls by £3,000 for every minute you travel out of the captial.
Yes, sitting on the train might be a painfully dull experience, but you’re saving a whole heap on your deposit for every minute you travel.
Savills Estate Agents has revealed stats from a recent report that showed the average property price across 314 locations around London. The survey found that a 30-minute commute could reduce house prices by £90,000.
If you are prepared to travel even further from commuter-belts in Surrey, Buckinghamshire and Kent then an hour on the train can see house prices fall by £200,000, which just about compensates for the £5,000 annual train ticket – just.
For example, the average property price in Beaconsfield, Bucks, which is 29 minutes from London by train, was £1,010,000. The house prices then dropped to £929,000 in Sunningdale in Berkshire, which is almost an hour away, and then fell again to £622,000 in Great Shelford, near Cambridge, which is just over an hour from central London.
Of course, there are a couple of anomalies. Idyllic outer-London village living could set you back if you are looking at Oxford, Cambridge or Winchester but generally the rule sticks – for every minute you sit on a train you bank £3,000 – kerching.
Commuters save a whopping £3,000 on property each minute further out of London. That commute’s not too bad after all, eh?
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