£82,000 savings by commuting

Workers in Edinburgh could save around £82,000 by commuting to the city rather than living there, according to new analysis.

Research by the Bank of Scotland found the difference in house prices between the capital and locations around an hour away would be enough to pay for the current annual rail cost (£2,299) for 35 years.

Homes in sites including Dunblane, Glasgow, Motherwell and Kirkcaldy cost £170,927 on average – £82,088 lower than the average price in Edinburgh (£253,015).

A 30-minute commute could save home buyers £80,671, with the average price for a home in places such as North Berwick, Dunbar, Livingston, Falkirk and Bathgate at £172,345.

In contrast, it is more expensive to have a longer commute to Glasgow.

A 15-minute commute from a town such as Paisley would see home buyers paying £124,319, 29% less than the average house price in Glasgow (£174,688).

An hour commute from areas including Edinburgh, Perth and Dumfries pushes house prices up to £227,525, 30% (£52,837) higher than in the city centre.

Graham Blair, mortgages director at Bank of Scotland, said: “Many people desire to buy near their place of work.

“However, for some towns and cities, the premium this comes with can price out the average buyer.

“With savings to be gained, it is an attractive pull to look further afield.”