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?
Wondering what Brexit might have done to the value of your home? Check out what the experts say about Brexit house prices