Home PropertyCommuter hub house price growth outperforming major cities despite travel cost increases

Commuter hub house price growth outperforming major cities despite travel cost increases

by LLP Reporter
4th Sep 19 11:56 am

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, โ€œWhile the increasing value of a property canโ€™t 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 isnโ€™t 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

Leave a Comment

You may also like

CLOSE AD