Could your house pay for your commute in just seven days?
7th January 2016
- Rising UK property prices can earn home-owners enough to pay for their annual rail fare in just a week
- Commuters in Solihull top the table, but commuter towns across the UK are benefitting from the increases
- The top property value rises to rail card cost ratios also include Surbiton, Radyr and Tandridge
As workers across the UK are hit with rising rail fares, property website Zoopla has worked out how long it can take for houses to increase in value enough to cover the annual cost of commuting.
By analysing site data from 2015, Zoopla compared the average annual house price increase in some of the UK’s most popular commuter towns over the previous 12 months, to the cost of an annual train ticket. The study found that property owners in Solihull fared best where residents commuting into Birmingham could have paid off their annual train travel in less than a week. The average property in the region increased in value by £34,695 (10.7%) last year (or £95 a day) to £341,470, meaning the rising value of their property could cover the cost of their annual £655 commute to Birmingham in just seven days.
Home owners in commuter hot spots in the South East also do particularly well in the study. In Surbiton commuters pay £1,800 for their yearly train travel into London. But with property prices increasing on average by £57,813 (10.7%) in 2015 (or £158.39 per day) to £567,250, their homes will cover the travel cost in just 11 days.
However property owners further north in the UK may not be quite as fortunate. Home owners in Dunfermline commuting to Edinburgh will need to work 155 days before the rising cost of their property will pay off the cost of their annual fare, while property owners from Falkirk to Edinburgh take 144 days and Glossop to Sheffield take 129 days.
The figures are a good indication of the areas performing well in the UK’s property market, as well as showing how valuable home owners find good transport links to major cities. By the end of 2015 the average British property was worth £290,827 and had risen in value by more than £20,000 (7.4%) - marking a bigger increase year-on-year than 2014 (6.9%).
The top 10 commuter hot spots where residents will be the quickest to pay off their 2016 travel are:
|1.||Solihull to Birmingham||7 days||7th January 2016|
|2.||Surbiton to London||11 days||11th January 2016|
|3.||Radyr to Cardiff||13 days||13th January 2016|
|4.||Tandridge to London||14 days||14th January 2016|
|5.||Barry to Cardiff||15 days||15th January 2016|
|6.||Epsom to London||17 days||17th January 2016|
|7.||Penarth to Cardiff||17.5 days||17th January 2016|
|8.||Bath to Bristol||18 days||18th January 2016|
|9.||Esher to London||18 days||18th January 2016|
|10.||Stockport to Manchester||20 days||20th January 2016|
Lawrence Hall of Zoopla commented: “Our research shows how much property prices have increased in certain popular commuter areas over the last 12 months and also highlights just how expensive commuter-belt living can be. As we'd expect, properties in key commuting areas continue to be in demand for buyers in competitive markets. While our research may soften the blow of increased rail fares for home owning commuters, the price rises we’re seeing do make it harder for those looking to take their first step onto the property ladder. But with Government Help-to-Buy schemes still in place and the promise of new homes to ease demand, both buyers and sellers should have at least some reason to be upbeat as we go into 2016.”
Wider regional data
|City||Commuter town||2016 current average property value (£)||Annual change in value Jan 2015 - Jan 2016 (£)||2016 annual rail card price (£)||Increase in property value per day in 2015 (£)||Time to pay off rail card (days)|
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For further information, please contact Tim Vooght at firstname.lastname@example.org or on 020 3872 5615.
Notes to editors
Zoopla is the UK's most comprehensive property website, focused on empowering users with the resources they need to make better-informed property decisions. We help consumers both find their next home and research the market by combining hundreds of thousands of property listings with market data, local information and community tools.
At Zoopla we are fans of transparency and everything we do is aimed at making the market more efficient for both property consumers and advertisers alike. Zoopla has rapidly become the UK’s leading online destination for property consumers to search for homes and do their market research and the favoured online marketing partner for UK estate agents, letting agents and property developers.
Launched in 2008, Zoopla has since been one of the fastest growing websites in the UK, now attracting over 40 million visits per month and we are proud to have collected numerous awards and accolades along the way, including being named one of the Top 10 UK Tech Companies (Guardian) and one of the Top 10 Most Innovative UK Companies (Smarta).
Zoopla is part of Zoopla Limited which was founded in 2007.
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