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11 commuter towns less than an hour from London where house prices are growing fastest

Savills, Woodland Gate Walk

Savills

This six-bedroom Grade II listed Georgian country residence in West Malling is on the market for £2.5 million.

As house prices in London continue to rise at a faster rate than wages, buying property outside of the capital city is an increasingly attractive option.

In fact, research from property agent Hamptons found that housebuyers were fleeing the city at the fastest rate in 10 years.

In 2016, 77,500 Londoners bought houses outside the capital, 22% more than in 2015.

Over the last five years property prices in some of the county’s lesser-known towns have demonstrated remarkable growth, far outpacing that of their more established counterparts.

Kent is home to several popular commuter towns, such as Rochester, Gillingham, Tunbridge Wells, and Sevenoaks.

Savills Estate Agents carried out a study which looked at properties located between 2km and 5km from Kent stations, which have a direct line to London of 65 minutes or less. The study, which Savills sent to Business Insider, compared the change in average second-hand sale price over a five-year period to determine which towns had the fastest-growing house prices.

While all but one — Cowden — of the main 29 commuter locations witnessed healthy growth, it was Ebbsfleet International and Marden which saw the highest average increase in house prices, of 53% and 51% respectively.

This rate is significantly higher than that of Sevenoaks or Rochester, for example, which witnessed growth of 13% and 28%.

Scroll down to see 11 of Kent’s under-the-radar commuter towns, ranked in ascending order by the average change in second-hand property prices over the last five years, along with the average sale price, commute time to London, and cost of a season ticket.

*House price figures are from Land Registry from the 12 months to October 2016.

=10. East Malling — 32% growth.

Average second-hand sale price: £309,603.

Commute time to London: 58 minutes.

Cost of a season ticket: £5,300.

=10. High Brooms — 32% growth.

Average second-hand sale price: £347,956.

Commute time to London: 53 minutes.

Cost of a season ticket: £4,380.

9. West Malling — 34% growth.

Average second-hand sale price: £336,360.

Commute time to London: 57 minutes.

Cost of a season ticket: £5,300.

8. Barming — 36% growth.

Average second-hand sale price: £310,793.

Commute time to London: 63 minutes.

Cost of a season ticket: £5,300.

7. Sittingbourne — 38% growth.

Average second-hand sale price: £216,297.

Commute time to London: 55 minutes.

Cost of a season ticket: £4,256.

6. Snodland — 39% growth.

Average second-hand sale price: £241,624.

Commute time to London: 45 minutes.

Cost of a season ticket: £4,200.

5. Rainham — 40% growth.

Average second-hand sale price: £255,869.

Commute time to London: 47 minutes.

Cost of a season ticket: £4,064.

4. Paddock Wood — 40% growth.

Average second-hand sale price: £341,717.

Commute time to London: 56 minutes.

Cost of a season ticket: £4,296.

3. Faversham: 43% growth.

Average second-hand sale price: £256,849.

Commute time to London: 63 minutes.

Cost of a season ticket: £4,776.

2. Marden: 51% growth.

Average second-hand sale price: £381,841.

Commute time to London: 63 minutes.

Cost of a season ticket: £4,464.

1. Ebbsfleet International — 53% growth.

Average second-hand sale price: £229,506.

Commute time to London: 19 minutes.

Cost of a season ticket: £4,508.

Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.



✍ Sumber Pautan : ☕ Business InsiderBusiness Insider

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