Ex­plore Lon­don’s com­pass points

The Daily Telegraph - Property - - Front Page -

can’t be­lieve the af­ford­abil­ity com­pared with Ox­ford, yet within a sim­i­lar travel time to Lon­don,” he says.

The Ox­ford-Ban­bury sce­nario is typ­i­cal of the dis­par­ity in prices that ex­ists be­tween com­mut­ing towns in the same re­gion, says Frances Clacy, a re­search an­a­lyst at Sav­ills. She has found the 10 best-value and most ex­pen­sive com­mutable areas to live around Lon­don’s com­pass points.

The find­ings are based on three fac­tors: the cost of an an­nual sea­son ticket with a Lon­don trav­el­card; the av­er­age house prices within 1.2 miles of the near­est sta­tion with di­rect trains to Lon­don; and the av­er­age de­posit re­quired for a mort­gage with 75 per cent loan to value.

“Rather than look­ing at lo­cal house prices or sea­son ticket costs, I thought it would give a more tan­gi­ble gauge of com­pared with nearby towns that are sim­i­larly com­mutable but fly un­der the radar. But there is al­most al­ways a catch: that more af­ford­able home may come with a longer com­mute or a higher-priced sea­son ticket.

The best-value com­muter re­gion over­all is east/south-east Lon­don, tak­ing in Es­sex and Kent. Even if you live near its most ex­pen­sive com­muter sta­tion, Sevenoaks, your monthly mort­gage and travel out­go­ings will be less than half of what you would pay to live near Oxshott – the prici­est sta­tion in the south/south-west com­muter belt. It will also be sig­nif­i­cantly less than if you live in Ger­rards Cross or Radlett, the most ex­pen­sive sta­tions in the west/north­west and north/north-east.

The over­looked best­value gems to the east and south-east of Lon­don are per­fect for those who work in the City, as you can com­mute to Liver­pool Street and walk to work. Clacy pin­points Southend-on-Sea as one of those un­sung com­muter spots. “It hasn’t al­ways had the best rep­u­ta­tion, but it has some at­trac­tive ter­races and there’s the air­port for ease of get­ting abroad,” she adds.

Stephen White, head of Sav­ills Chelms­ford, adds that in the town’s smartest dis­tricts of Thorpe Bay and Leigh-on-Sea, you can pay up to £800,000 for seafront apart­ments and £1.5mil­lion for a Thir­ties house

“It has all the hous­ing types you could want within a few miles of the sta­tion and a fan­tas­tic train line. It’s not all about beach­front ar­cades,” says White.

Here’s a look at some of the com­mutable sur­prises on each side of Lon­don.

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