Three quarters of renters would only choose to buy if their commute time isn’t compromised
- 14th November 2019
- Selling Property News
Importance of transport links explains why demand for properties inside of Zone 3 at the highest level in a decade
New research found that three quarters of renters in the UK considering buying a property would only do so if it didn’t significantly lengthen their commute.
The demand for an easy commute explains why the number of offers for properties inside of Zone 3 and closer to the centre of London are now at the highest level in a decade.
Our view is that many parts of Zones 2 and 3 offer the perfect blend of a quick commute and lower property prices than Zone 1, factors which are obviously highly attractive to younger professionals.
These areas have benefited from ever-improving tube and bus networks. Meanwhile the above inflation increases in train fares from outside London are reducing the lure of long-distance commuting from the stockbroker belt and the rest of the Home Counties.
Areas in Zones 2 and 3 such as the Docklands, Lewisham and Greenwich have also been receiving very substantial public investment in their infrastructure over the years. Making them more attractive to buyers who are ever more sensitive about how long their commute is.
In London the average commute is around 40 minutes so if the commute from your property into central London is around this time or lower then you should be factoring that into how the property is marketed and priced.
Stephen Ludlow, Chairman at ludlowthompson, says: “Public transport is more heavily used by Londoners than by residents of other cities in the UK. 70% of Londoners use public transport to get to work. If you want to see the best balance between accessible commuting and London’s nightlife you are also going to have to travel.”
“That means a well-located property for tubes and bus routes is increasingly well valued by tenants and buyers alike.”
ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms. Over a three-year period, we ranked number 1 agent in the UK on allAgents out of 15,000+ agents, with 5300+ 5* reviews.
Here is a selection of recent reviews of happy customers of ludlowthompson via Google Reviews:
Beverly Eldridge via google reviews:
“Looking for a new home can often seem pretty daunting but with the help of Natalie and Alex from ludlowthompson docklands the process has been wonderful. Unlike many estate agents I have dealt with in the past, they are extremely attentive, professional and have impressive knowledge of their field.”
Alexis Curtis-Harris via google reviews:
“I've dealt with a lot of estate agents but ludlowthompson have by far been the most helpful. Jesse Oteri of ludlowthompson's Bow office took all the stress out of my move and made what has previously been a hassling time, so much easier. Can't thank him enough.”
“Public transport is more heavily used by Londoners than by residents of other cities in the UK. 70% of Londoners use public transport to get to work. If you want to see the best balance between accessible commuting and London’s nightlife you are also going to have to travel.”
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