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Is it time for a move to the ‘commuter-belt’?

According to research released by Savills recently, the well and historic gap between prices in London and the surrounding towns in the commuting areas are beginning to close up.  This is coupled with the fact that prices within the London markets are predicted to decrease with prime central forecast to fall by 9% this year with the ‘prime’ outer London prices going down by 5% in 2016.

Towns and areas within the commute-belt are apparently less likely to suffer in a downturn and so these zones are showing stronger price growth compared to the more central London locations and are expected to continue to be the stronger markets of the two with property over £500,000 in the south up to July 2016 grew by 15% up to July compared to similar pricing levels in London only achieving 1.2% rises. 

With the first six months of 2016, research shows that purchasers from London were accountable for nearly a third of all transactions within the prime suburban and commuter market places.

Written by Christopher Humphrey, Macdonald & Company, London.
You can connect with Christopher on LinkedIn by clicking here.