Buying agents Garrington Property Finders have conducted research into which commuter towns have faster rising house prices than in London, and the company has compiled a list detailing which the top 10 towns are for this in the UK.
The capital city of London has gathered a reputation over the years for how the cost of living has significantly increased year on year, and in comparison to most areas of the UK the prices to buy houses in London has tended to be much more more expensive and have risen at a much faster rate, but it appears some commuter towns are now beating London.
“Every year tens of thousands of Londoners move out of the capital to the surrounding commuter belt, driven by a desire for better value, more space and a wider choice of schools” commented Jonathan Hopper, the managing director of Garrington Property Finders. “But in addition to the usual shopping list for would-be commuters – good transport links, good schools and so on – many buyers will also have one eye on the potential for price growth when choosing a location.”
Brentwood in Essex is the number one commuter town in the list, as prices have risen a staggering 16% in the space of a year to £457,314, with London’s prices rising only 11% which is significantly lower than that of Brentwood.
Canterbury, Hertford and Fleet are closely behind Brentwood, with rises of 16%, 15% and 15% respectively, and Maidenhead is in fifth place after experiencing the highest value gained out of the 10 towns with an impressive gain of £91,131 and a percentage price rise of 14%.
High Wycombe and Reading also made it onto the list with house price rises of 14% and 13% respectively, and completing the Top 10 are St. Albans, Oxford and Farnborough, where a 12% increase has been recorded in all three areas.
The research clearly shows just how hot some of the counties ‘hotspots’ have become, and maybe will see even more towns next year with faster rising house prices than London.