Rise of London walk-to-work homes

Many London workers are now opting to abandon the commute and buy or rent close to the office. As temperatures plummet and travel costs remain high, many commuters will undoubtedly be envious of those who have already found a base in the capital this Christmas.

Urban villages are springing up across the capital, combining retail, residential and office space. They are typically found close to technology, media and design company hubs such as London Bridge, Victoria and Shoreditch.

A perfect example lies in the White Collar factory, scheduled for completion in 2016 at Old Street and will have capacity for hundreds of people to live and work.  

Living close to the office is an increasingly attractive option, as travel costs remain high. Further increases in fares have been announced for January 2015. Rail season tickets will rise by between 2.1 and 2.5%, meaning some will find themselves pushed into the £5000-a-year bracket.  Weekly zone 1-9 travelcards will also witness an increase in price of £2 per week.

The popularity of cycling to work has also soared in recent years, boosted by the success of British cycling and the excitement surrounding the Tour de France earlier this year. This trend has contributed to increased numbers of people searching for properties closer to the City and West End, while London's great cycling infrastructure - which includes the cycle-lanes, bike-hire stations, and the cycle for work scheme - has encouraged more people to ride to work.

Stephen Ludlow, chairman of ludlowthompson, comments: “With travel costs so high, more and more will seek out accommodation close to where they work.

“The ‘city campus’ concept, with people living, shopping and working in one space is an exciting new development. We are likely to see many more of these urban village communities spring up over the next few years.”