Commuter Town Pays for Season Ticket in days

Commuter Town Pays for Season Ticket in days

A Surrey commuter town is currently so popular with buyers that property price rises mean that the cost of a rail season ticket into London can be covered within days.

Esher property rose in value by an average of 9.25% last year, the equivalent of £256.66 per day. This would cover the cost of an annual season ticket into London worth £2,080 in just over eight days, according to new research from Zoopla, quoted in the Telegraph.

2017 House Price Predictions

The town tops a list of the top ten locations where the cost of commuting to the nearest large town or city for work can be paid off quickly by the theoretical property price rises. Surbiton and Tandridge were the only other London commuter towns in the top 10, all three benefiting from a cocktail of high house prices, increasing levels of growth, and lower train fares.

At the other end of the scale, property in Greenock, near Glasgow, are increased in value by just 1.28pc last year, so it would take 329 days for an average home’s growth to pay off the season ticket price of £1,564.

Lawrence Hall of Zoopla said: “Rising rail fares will have been unwelcome news for commuters heading back to work this week, but our figures may at least soften the blow slightly for those already living in the suburban locations at the top end of the table.”

At the same time, house prices near the soon-to-launch Crossrail ‘Elizabeth Line’ in Essex, UK, have risen by up to 53.8% in just three years, new data suggests.

Areas close to an ‘Elizabeth Line’ station, such as Gidea Park, Brentwood and Shenfield have rocketed, according to new research by Beresfords Estate Agents.

For example, the price an average three-bed semi-detached home in Brentwood has leapt from £325,000 in 2013 to £500,000 in 2016.

In the last year alone the price has gone-up by 11.1% at a time when other areas in the East of England grew 6.4%, according to the House Price Index by Rightmove.

Terry Holmes, Director, Beresfords, “There is a huge demand for housing in Essex from commuters. Although Essex has seen substantial price hikes it is still a very affordable option compared to other home county locations.

Crossrail’s impact on the UK’s house prices

“The arrival of Crossrail will offer commuters faster connections to London Liverpool Street, and when the line is fully opened, offer quick and very accessible links to central London, Canary Wharf, London Heathrow and further afield.”

Crossrail will officially open its services from Shenfield to London Liverpool Street in May 2017 and the full line and range of services are due to open in December 2019.

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:

STAY AHEAD OF THE MARKET

Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment

FIRST FOR NEWS AND KNOWLEDGE.

Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:

 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

 

+852 6699 9008

Open from 9am-6pm HKT