Londoners choose to commute over city life
04 July 2014
As property market prices continue to rise, a study by Atlantis Property has uncovered that cost is not the only thing sending Londoners packing for quieter commuter towns.
London truly is a spectacular city, thriving with culture, renowned parks, a lively music, theatre and restaurant scene and world-famous landmarks – what more could you want? But alas, the London lifestyle comes at a price that more and more of us are unable and/or unwilling to pay. London house prices and rent are extortionate in comparison to other areas in the country. Put into perspective, the average London rent, (taken from price paid over the last year on Zoopla) costs more than any commuter town’s rent, council tax and travel expenses into London Zone 1-6.
Travel time into London is a big consideration; for example, the study shows that Stevenage is the cheapest town to live and rent in at under £1,173 per month, however, the low costs come at a price with a journey time of an hour from Stevenage to London, which is enough to put off even dedicated commuters. People looking to commute will be searching for a balance between price and travel time for a healthy, happy life. A report by PwC and Demos states that Reading and Bracknell were concluded to have the highest quality of life when accounting for these factors as well as others such as income levels, health and transport.
Commuter towns are notoriously known for not having much going on in comparison to the capital, but this is changing. There is an ever growing profusion of jobs in these areas, especially areas like Reading and Thames Valley where large IT companies are choosing to set up shop instead of London.
Commenting on the results, Andy Malone, Sales Director of Atlantis Property, said: “We are seeing increasing numbers of people who are unable to pay the premium for living in London coming to Reading to see what is on offer in the housing market and choosing to make this their home."
"Additionally with the announcement of the proposed extension of Crossrail, which will in time shorten their commute even further, and the extensive regeneration of the town centre, Reading is definitely one of the top choices for commuters. Many blue-chip companies have also decided to base their headquarters within the town providing another incentive for people to locate to the area,” he added.