Property prices in Prime Central London are on average 34% higher that their 2007 peak. This compares to 5% for the commuter belt. This has resulted in the widest gap between what your money can buy in London and how far it stretches in the Home Counties. However, according to Savills research it would seem that things are about to change.
It is predicted that whilst Prime London areas will increase in value by 23% over the next five years, the commuter belt will do slightly better, with growth of 25%. So could now be the time to make the move and reap the rewards of the price differential and that extra growth?
Certainly trading in a three bedroom terraced house in Fulham for a five bedroom country house in prime commuter belt areas like Farnham, or Godalming in Surrey, could just prove to be irresistible. Easy commutes, excellent schooling, accessible market towns and the benefits of living in the countryside have an appeal that is expected to see the number of people moving out of London gain momentum in the coming months.
The post-election market is still going through a period of adjustment. The past six months has been hard for many to sell their London properties but as the market settles down, buyer applicant levels increase and more stock becomes available the scene is set to change. None of this is rocket science but as with all things the early bird gets the worm.