Estate agent comparison website, GetAgent.co.uk, has looked at the cost increase in annual train fares over the last year across a host of commuter towns heading into major cities, highlighting the locations where the local housing market has defied the Brexit blues to register house price growth above and beyond the price increase of a train ticket.
GetAgent.co.uk looked at commuter towns surrounding London, Bristol, Manchester, Leeds, Birmingham and Liverpool, working out the cost increase in an annual train ticket for each over the last year. GetAgent then looked at house price growth during the same period to see where commuters were quids in on property values despite the cost of commuting into a larger city and how this compared to house price growth in each city.
The best of the bunch is Newport in Wales, where the average house price has increased by ยฃ7,362 over the last year, while the cost of commuting into Bristol has risen by just ยฃ77, an overall increase of ยฃ7,285 after commuter costs. In contrast, house prices in Bristol have dropped by ยฃ3,602 during the same time period so commuting to Bristol has paid off for Newport homeowners.
Commuting from both Stafford and Kidderminster into Birmingham has also been a good choice for homeowners. Both locations have seen the annual cost of travel increase by ยฃ55 and ยฃ35 respectively, but with house price growth hitting nearly ยฃ6,000 over the last year in both locations, homeowners have seen a total increase of between ยฃ5,700-ยฃ5,800, compared to just ยฃ2,317 in Birmingham.
Homeowners commuting from York have also seen a total increase of ยฃ5,011 in house prices once you deduct the ยฃ72 increase in train fares, compared to just ยฃ2,903 in Leeds as a whole.
Commuting from Widness (ยฃ4,871) and Runcorn (ยฃ4,852) to Liverpool has also been more profitable for homeowners compared to the ยฃ2,670 increase in property values in the main city.
Homeowning commuters in Rochdale (ยฃ4,789) and Stockport (ยฃ4,629) are far better off than those living in Manchester despite an increase in commuting costs, with property prices in Manchester down by ยฃ955 in the last year.
Canterbury has been the most profitable commuter town for homeowners travelling into London. Despite a ยฃ172 jump in travel costs, prices are up ยฃ4,150 over the last year, ยฃ3,978 after the cost of commuting, and a much better performance than London as a whole where prices have dipped by ยฃ17,791 in the last year.
The worst commuter town for homeowners is Slough where travel costs have increased by ยฃ81 in the last year, while property prices have fallen by ยฃ15,904. Despite this combined decline of ยฃ15,985, it still comes in less than the ยฃ17,791 lost in London property values.
Founder and CEO of GetAgent.co.uk, Colby Short said, โWhile the increasing value of a property canโt be directly drawn upon in order to stomach the increasing cost of travel, it will certainly be welcomed by those homeowners that have looked to the commuter belts of our major cities.
“With prices growth falling or flattening in many major cities across the UK, the choice to commute those extra hours will not only have provided a more affordable foot on the ladder but in many cases, a healthier return on your investment.
“Unfortunately, this isnโt the case for some commuter towns around London and Bristol in particular and this will no doubt be more upsetting to homeowners in these areas than the inevitable delays experienced when commuting.
“However, for the majority, the obstacles faced on the daily commute have seen them beat the Brexit market blues where property prices growth is concerned at least.โ
Commuter City | Major City | Change in Annual Travel Costs | Change in Commuter House Price | Overall Change in Travel and House Price | Price Change in Major City |
Newport (Wales) | Bristol | ยฃ77 | ยฃ7,362 | ยฃ7,285 | -ยฃ3,602 |
Stafford | Birmingham | ยฃ55 | ยฃ5,892 | ยฃ5,837 | ยฃ2,317 |
Kidderminster | Birmingham | ยฃ35 | ยฃ5,734 | ยฃ5,699 | ยฃ2,317 |
York | Leeds | ยฃ72 | ยฃ5,083 | ยฃ5,011 | ยฃ2,903 |
Widnes | Liverpool | ยฃ26 | ยฃ4,897 | ยฃ4,871 | ยฃ2,670 |
Runcorn | Liverpool | ยฃ45 | ยฃ4,897 | ยฃ4,852 | ยฃ2,670 |
Rochdale | Manchester | ยฃ36 | ยฃ4,825 | ยฃ4,789 | -ยฃ955 |
Stockport | Manchester | ยฃ25 | ยฃ4,654 | ยฃ4,629 | -ยฃ955 |
Canterbury | London | ยฃ172 | ยฃ4,150 | ยฃ3,978 | -ยฃ17,791 |
Altrincham | Manchester | ยฃ28 | ยฃ3,970 | ยฃ3,942 | -ยฃ955 |
Southport | Liverpool | ยฃ36 | ยฃ3,800 | ยฃ3,764 | ยฃ2,670 |
Ashford | London | ยฃ165 | ยฃ3,562 | ยฃ3,397 | -ยฃ17,791 |
Macclesfield | Manchester | ยฃ55 | ยฃ3,359 | ยฃ3,304 | -ยฃ955 |
Brighton | London | ยฃ145 | ยฃ3,126 | ยฃ2,981 | -ยฃ17,791 |
Bolton | Manchester | ยฃ28 | ยฃ2,997 | ยฃ2,969 | -ยฃ955 |
Nuneaton | Birmingham | ยฃ62 | ยฃ2,884 | ยฃ2,822 | ยฃ2,317 |
Rugby | Birmingham | ยฃ90 | ยฃ2,584 | ยฃ2,494 | ยฃ2,317 |
Warrington | Liverpool | ยฃ30 | ยฃ2,300 | ยฃ2,270 | ยฃ2,670 |
Halifax | Leeds | ยฃ33 | ยฃ1,180 | ยฃ1,147 | ยฃ2,903 |
Guildford | London | ยฃ190 | ยฃ1,042 | ยฃ852 | -ยฃ17,791 |
New Brighton | Liverpool | ยฃ22 | ยฃ493 | ยฃ471 | ยฃ2,670 |
Huddersfield | Leeds | ยฃ36 | ยฃ440 | ยฃ404 | ยฃ2,903 |
Burton upon Trent | Birmingham | ยฃ86 | -ยฃ400 | -ยฃ486 | ยฃ2,317 |
Colchester | London | ยฃ159 | -ยฃ513 | -ยฃ672 | -ยฃ17,791 |
Bradford | Leeds | ยฃ31 | -ยฃ1,192 | -ยฃ1,223 | ยฃ2,903 |
Brentwood | London | ยฃ83 | -ยฃ1,314 | -ยฃ1,397 | -ยฃ17,791 |
Woking | London | ยฃ99 | -ยฃ1,329 | -ยฃ1,428 | -ยฃ17,791 |
Swindon | Bristol | ยฃ104 | -ยฃ1,442 | -ยฃ1,546 | -ยฃ3,602 |
High Wycombe | London | ยฃ108 | -ยฃ1,460 | -ยฃ1,568 | -ยฃ17,791 |
Southampton | London | ยฃ178 | -ยฃ1,401 | -ยฃ1,579 | -ยฃ17,791 |
Gillingham | London | ยฃ125 | -ยฃ1,934 | -ยฃ2,059 | -ยฃ17,791 |
Aylesbury | London | ยฃ127 | -ยฃ1,972 | -ยฃ2,099 | -ยฃ17,791 |
Oxford | London | ยฃ159 | -ยฃ1,990 | -ยฃ2,149 | -ยฃ17,791 |
Eastbourne | London | ยฃ64 | -ยฃ2,158 | -ยฃ2,222 | -ยฃ17,791 |
Crawley | London | ยฃ115 | -ยฃ2,323 | -ยฃ2,438 | -ยฃ17,791 |
Chippenham | Bristol | ยฃ60 | -ยฃ3,729 | -ยฃ3,789 | -ยฃ3,602 |
Westbury | Bristol | ยฃ71 | -ยฃ3,729 | -ยฃ3,800 | -ยฃ3,602 |
Bath | Bristol | ยฃ51 | -ยฃ5,101 | -ยฃ5,152 | -ยฃ3,602 |
Luton | London | ยฃ131 | -ยฃ5,708 | -ยฃ5,839 | -ยฃ17,791 |
Harrogate | Leeds | ยฃ31 | -ยฃ7,314 | -ยฃ7,345 | ยฃ2,903 |
Bracknell | London | ยฃ141 | -ยฃ7,380 | -ยฃ7,521 | -ยฃ17,791 |
Cambridge | London | ยฃ156 | -ยฃ7,417 | -ยฃ7,573 | -ยฃ17,791 |
Reading | London | ยฃ141 | -ยฃ8,106 | -ยฃ8,247 | -ยฃ17,791 |
Milton Keynes | London | ยฃ163 | -ยฃ9,267 | -ยฃ9,430 | -ยฃ17,791 |
Slough | London | ยฃ81 | -ยฃ15,904 | -ยฃ15,985 | -ยฃ17,791 |
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