One hour commute could save you £450k

Posted by on Sep 26, 2016 in Blog | No Comments
One hour commute could save you £450k

Londoners could save nearly 60% of the cost of houses (nearly £450,000) if they can live one hour away new research from Lloyds bank has shown.

Prices in towns such as Rugby, Sittingbourne and Wellingborough had average prices of £295k compared the huge £742k in London.

However its not as simple as you may think,the cost of commuting one hour every day comes to nearly £5000, this means that you’d have to work for 89 years to have to make that saving counter the house prices.

If you wanted to ease up on the commute towns like Reading, Billericay and Hatfield you’d have to pay around £389k with the rail pass costing only £3.5k compared to London.

closer still towns like Borehamwood, Elstree or Ilford could get a house at nearly £298k cheaper.

Commuting may be a pain but many commuters do not mind as it means they’re able to afford properties. When you bring in other factors like school,s environments and cheaper living costs it all starts to add up.

Other large cities in the UK like Manchester find the prices are normally higher than in the city.