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Property price to rail cost ratio revealed by Lloyds TSB

Summary

The average rail cost of a homeowner commuting 60 minutes to London is pushing the £4,000 a year mark, according to new figures from Lloyds TSB.

Our Solution

The average rail cost of a homeowner commuting 60 minutes to London is pushing the £4,000 a year mark, according to new figures from Lloyds TSB. The survey - which compared house prices with commuting time - found that those making a 60-minute train journey into work every day from areas like Newbury, Crawley, Bracknell Forest and Maidstone will be asked to stump up £3,800 a year for the privilege, cites freshbusinessthinking.com. However, house prices are also much smaller than of those properties in the city. For a property within Travelcard zones 1 and 2, the average asking price is £555,000. However, for a property in the aforementioned four areas, the average price is £247,000. In addition, average house prices within the 'half hour zone' of London are reaching £272,000: still some £283,000 lower than in zones 1 and 2. However, those working from home can scratch off the cost of commuting and still grab a good deal on a house outside of the capital. This extra cash could go towards garden office planning in order to start working from home in comfort. Suren Thiru, Lloyds TSB housing economist, commented on the figures to propertytalklive.co.uk: "Distance from work is often the deciding factor for purchasing a home. It is generally true that the further you commute, the larger are the financial savings made in terms of lower house prices."

Author:

Ashley Curtis

22nd October 2012