London commuter towns continue to grow in popularity

London commuter towns continue to grow in popularity

The high cost of property and living in London has been well documented with the latest figures from the ONS (Office for National Statistics) revealing that average house prices are more than 50% higher than the rest of the UK, leisure costs are nearly 15% higher, hotel costs 13% higher and furniture and household goods just over 12% higher.

With this in mind, it’s little wonder that many people who work in the capital gravitate to the commuter belt to live and lay down roots. Currently, the commuter-belt areas that are gaining the most popularity are Luton, Slough, Weybridge, and Woking where access to London is quick and easy and prices don’t come with the eye-watering London price tag.

Top of the pile when it comes to commuter towns is Luton. New research by estate agent Jackson-Stops rated Luton as the number one hotspot for London commuter towns in the south-east of England, praising the town for its affordable property prices (£252, 896 vs London’s £490,718) and overall investment potential.

With only a 22-minute commute into London, Luton is proving to be a magnet for commuters and overall, the ONS statistics reveal that the people choosing to commute into London rather than live there, is at an all-time high. For investors, commuter towns are emerging as a pretty safe bet for achieving sales as well as rentals.