BUCKS TOWNS ARE TOP CHOICE FOR COMMUTERS
Beaconsfield and Amersham are ‘most desirable’
LOOKING for the perfect town to travel to work from? Well, look no further.
The Buckinghamshire market towns of Amersham and Beaconsfield have been crowned London’s most desirable commuter town.
According to CBRE’s Desirability Index, Amersham has the highest share of “desirability factors” - yet, with an average house price of £683,000, it is valued 2% lower than what might be expected.
Amersham, situated 27 miles North West of London, beat 65 other towns and cities – all of which lie within a 90-minute com- mute to the capital.
Although Amersham and Beaconsfield both received the highest desirability score of 38, Beaconsfield was also named the most expensive out of all commuting towns in the report.
Out of the 67 towns and cities, the average desirability score was 29 and the average house price was £515,000.
The average house in Beaconsfield, however, costs over £1million – whereas Amersham has a stronger desirability to affordability ratio.
Jennet Siebrits, Head of Residential Research at CBRE, spoke about the recent Desirability Index.
She said: “Intuitively we think there is a relationship between the desirability of a place and house prices – basic economics tells us that the higher the demand, the higher the price paid for it.
“Buyers are traditionally drawn to areas that have the best retail, excellent schools and leafy green open spaces, as well as good connectivity.
“The findings of our latest research suggest that several of London’s commuter towns score highly in the Desirability Index and yet have disproportionately lower than average property prices.”
An example of a town with low property prices but high desirability is Oxted, who scored 35 for desirability but has an average house price of £537,955.
However, Hatfield is the most “undervalued” of all the commuter towns considered – with a desirability score of 34 yet an average house price of just £347,026.
According to the report, these towns are effectively undervalued against their competitors and can be identified as hot spots for future growth.
CBRE analyses the relationship between scores and average house prices and suggests that for every 10% increase in desirability, house prices increase by 10.5%.
By determining an area’s reason for demand, they can identify towns that have a disproportionate relationship between house prices and desirability, which therefore represent an “undervalued” section of the commuter town market.
Beaconsfield Ideal location: