10 Nov

Demand strong for commuter properties

Demand strong for commuter properties

Properties in popular commuting areas could be set to outperform those located in prime areas of London.

Research from property market company Savills concludes there is strong potential for growth in areas surrounding the capital and this could be seen over the mid-to-long term as buyers move away from the expensive prime spot homes in London.

At present, prime London property prices are 36.8 per cent above the prices seen in 2007, whereas commuter areas have only seen a 6.6 per cent rise in the same timescale.

"We expect the trend for urban living to continue as London buyers seek out vibrant locations where they don't have to sacrifice the convenience of living close to shops, restaurants and leisure facilities," explained Sophie Chick, Savills research associate director.

However, the report from Savills does show that short term growth is likely to be limited by the recent changes to mortgage application requirements, stamp duty changes and a slight slowdown in the prime London market.ADNFCR-1222-ID-801805340-ADNFCR

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