Could Rising Property Prices Cover the Cost of Your Commute?

Rising property prices could earn homeowners enough to pay for their annual rail fare in as little as eight days, according to data from Zoopla.

Matching house price data with the cost of an annual season rail ticket, Zoopla have revealed the top ten commuter towns to cover this cost the quickest.

Their data found that homeowners in Esher, Surrey, who commute to London, were the best off. Property prices in the town increased by £256.66 a day, which equates to 9.25% annually.

The growing value of a property in Esher could easily cover the cost of an annual £2,080 commute to London in just eight days.

Lawrence Hall, spokesperson for 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.”

Solihull came in second place, where commuters pay £745 annually on their train tickets into Birmingham. With house prices increasing by £31,149 (£85.11 per day) in 2016, homeowners would have their commuting costs covered in just nine days.

Nearby Stourbridge also features in the top five commuter spots where residents could be the quickest to pay off their travel fares. With annual rail tickets into Birmingham also costing £745, it would take just more than 12 days to pay off rail fares.

Penarth was the only commuter town not in England to feature on the list. With an annual rail season ticket costing £516, and a property price increase of 5.52% annually, it would take just under twelve days to pay off ticket costs.

Commuter towns surrounding London featured most heavily in the top 10 list, where property prices can grow between 7.2% and 9.25% annually. Towns surrounding Birmingham and Bristol also feature prominently on the list, with Chippenham leading the way with the highest property price increases of 14.14% annually.

Rank Town Commuter Route Average Property Price (December 2016) Rail card prices 2017 Average Property Price Rise in 2016 (%) Time taken to pay off ticket cost (days)
1 Esher London £1,109,098 £2,080.00 9.25 8.10
2 Solihull Birmingham £377,890 £745 8.98 8.75
3 Penarth Cardiff £304,569 £516.00 5.52 11.86
4 Stourbridge Birmingham £266,193 £745 9.24 12.10
5 Surbiton London £599,075 £1,852.00 8.83 13.95
6 Tandridge London £708,225 £1,820.00 7.20 14.00
7 Stockport Manchester £251,257 £792.00 8.46 14.80
8 Rotherham Sheffield £146,841 £532.00 9.40 15.43
9 Yatton Bristol £338,239 £1,476.00 11.20 15.86
10 Chippenham Bristol £337,245 £1,996.00 14.14 17.49

 

Worst Commuter Towns to Pay Off Rail Fares

At the other end of the spectrum, Greenock on the outskirts of Glasgow proved to be the worst town in the UK for paying off ticket costs. Residents in the Scottish town would have to wait more than 328 days for their property to pay off commuter costs with interest. This is down to high rail prices of £1,564 and low property price rises of just 1.28%.

While nine out of the top ten best commuter towns were in England, only four feature in the worst commuter towns for paying off rail fares.

English towns featuring in the list are based in the North or Midlands, with Nottingham featuring twice on the list.

Six out of the top ten worst commuter towns were based in Scotland, four of which were in commuting distance to Glasgow, and the other two based nearby Edinburgh.

This outcome is largely due to high rail card prices and low property price increases. Falkirk saw the largest increases in 2016, at 6.06%, but also has high season ticket costs of £2,072 annually.

Rank Town Commuter Route Average Property Price (December 2016) Rail card prices 2017 Average Property Price Rise in 2016 (%) Time taken to pay off ticket cost (days)
1 Greenock Glasgow £137,342 £1,564.00 1.28 328.60
2 Loughborough Nottingham £236,639 £1,356.00 0.91 233.11
3 Stirling Glasgow £188,856 £2,084.00 1.77 231.63
4 Lanark Glasgow £148,278 £1,732.00 1.98 219.73
5 Rochdale Manchester £147,042 £1,116.00 2.58 110.48
6  Pontefract Leeds £177,685 £1,012.00 2.20 96.73
7 Falkirk Edinburgh £143,713 £2,072.00 6.06 92.30
8 Mansfield Nottingham £145,743 £1,124.00 3.51 83.21
9 Kilmarnock Glasgow £145,720 £1,632.00 5.64 76.82
10 Livingston Edinburgh £168,197 £1,516.00 4.64 74.38

 

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The post Could Rising Property Prices Cover the Cost of Your Commute? appeared first on Compare My Move.

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