House prices: Cheapest commuter towns where homebuyers can save thousands

PROPERTY can come at a huge cost especially in cities where the average property in London costs a whopping £650,000. This means homebuyers will often have to look elsewhere in order to get a home at a reasonable price.

PUBLISHED: 09:07, Wed, Sep 9, 2020 | UPDATED: 09:07, Wed, Sep 9, 2020

Property is a huge investment and many will need to save up for several years in order to get onto the property ladder. With cities being out of reach for a lot of people due to the cost of living, latest research by property developer StripeHomes has shared the best commuter belts where homebuyers can save thousands on a new-build property while still being in a commuter belt to their local city. 

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Before purchasing a property, factors such as price and location will be a top priority for most people.

StripeHomes looked at the current cost of buying a new-build in 20 major cities and compared this to the cost of buying a new-build home in each of the local authorities that surround these major cities. 

This was to identify which offered the most prominent house price discounts whilst still being on a commuter belt to a nearby city. 

London is often the focus of commuter belt property discounts with 17 local authorities surrounding the capital, meaning buyers can get a home at a reasonable price and still travel into the city in a short time. 

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House prices: Cheapest commuter towns where homebuyers can save thousandsHouse prices: Cheapest commuter towns where homebuyers can save thousands (Image: Getty)

Homebuyers can save 34 percent when buying a new-build in areas surrounding their local cityHomebuyers can save 34 percent when buying a new-build in areas surrounding their local city (Image: Getty)

With the average new-build in the capital costing £513,564, StripeHomes research suggests that homebuyers can find an equivalent home on the commuter belt with a saving of 34 percent. 

Speedy travel connections mean certain places some distance from London have become affordable commuter towns.

In Slough, the average new-build is £174,000 cheaper than London with a travel time into the city being just 24 minutes. 

Cardiff and Edinburgh are home to the second-largest commuter belt saving when opting for a new-build property. 

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