24 December 2010

How much would you pay to shorten your daily commute to London?

Lokku Labs carried out research into the cost of living close to work in January 2010. It analysed the financial impact of living in London against commuting to it. Factors considered were house prices per residential area with commuting flows to London, travel costs and time and productivity costs. Special attention was paid to detecting geographical differences between relative commuting times and house prices.


Londoners spend 38 minutes travelling from home to the workplace, 10 minutes more than the average UK worker (1). Depending on the use of car, the average may rise to 47 minutes (2). Is the long commuting worth it?

Distance from Work
Distance from work has often been the deciding factor for purchasing a home. If one resides in London, the closer one lives to work, the more expensive the home. Conversely, the further away from London one lives, the more affordable a home becomes.

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11 March 2010

London Commuters save £515 a month for every five miles extra they commute

London

In January Gartoo researched the combined house and commute costs of areas around London to try and find the optimum location for someone working in central London to live, the results were staggering.

Every five miles nearer to Bedford one lives from St. Pancras a monthly average saving of £515 is made on combined mortgage repayment and commute costs.

Moving from Camden to Potters Bar – an added journey time of 17 minutes a day – could save £1,234 per month in combined travel and mortgage repayment costs.

So why do people still choose to live in non optimum locations such as Camden?

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