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Market Financial Solutions are a bridging loan and buy-to-let mortgage provider, not financial advisors. Therefore, Investors are encouraged to seek professional advice. The information in this content is correct at time of writing.
Identifying the “best” London commuter towns in 2024 is tricky. While there are many factors that need to be incorporated, ultimately the answer will be subjective.
One person may consider the best commuter town to be the one with the easiest route into London. Others may instead consider the most affordable town to be the best.
Also, differing perspectives may influence preferences. A property investor may view one town as the best commuter hotspot for its yielding potential. Whereas a renter may judge a commuter town by how cheap the train fares are to get into the capital.
Still, there are a few key categories in which commuter towns are commonly judged. It’s through these we will be analysing the best London commuter towns for 2024.
By Speed
Of course, commuter towns are named as such for how they provide easy, affordable access to London. For many, how quickly they can get in and out of the city will be the sole concern.
On that, Move iQ, the property insight firm launched by Phil Spencer[1], recently ranked London commuter towns by train times, house prices, and “what they’ve got going for them”. The top five are:
- St Albans, Hertfordshire – 21 mins
- Hatfield, Hertfordshire – 23 mins
- Reading, Berkshire – 23 mins
- Borehamwood, Hertfordshire – 22 mins
- Iver, Buckinghamshire – 23 mins
St Albans specifically seems to have a lot going for it at the moment. It was also recently named the best London commuter town by OnTheMarket[2], who analysed Google search data, distance to the city centre, transport links, local schools and other factors to come to their decision. The average house price in St Albans was £576,000 in June 2024, according to the latest data from the ONS[3].
The Best London Commuter Towns By Beauty in 2024
For many, their commuter town will be their escape from the perceived harshness of the city. They prioritise getting away from the glass towers of the capital, for rolling hills and greener pastures in the outskirts.
London’s green belt is primed for this, and there are a few key towns scattered around it. Specifically, Windsor, Guildford, Sevenoaks, Brentwood, Epsom, and Greenstead are surrounded by green belt land[4].
These regions/towns can be expensive though, with prime house prices easily stretching into the millions[5]. Also, oncoming developments could dramatically impact our green belts.
Labour plan to build homes on “grey belt” land, defined as “poor quality and ugly areas” of underutilised green belt spaces[6]. Specifically, Buckinghamshire, St Albans, Chelmsford, Rochford, and Basildon are the five authorities with the largest grey belt development potential, according to analysis from LandTech[7].
All are regions encircling London. Should we see houses actually get built in these regions, new hotspots may make their way into “best London commuter towns 2024” lists.
By Price
For investors, what may trump all other concerns is cost. Property in commuter towns can be in high demand, for obvious reasons. This demand can push up prices.
The goal for many will be to try and take advantage of this demand, at the best price possible. Fortunately, recent months may have allowed for some investors to secure bargains in the commuter market.
St Albans, once again, stands out. While holding plenty of potential, half of the homes in the Hertfordshire town lost value in H1 2024, according to Zoopla[8]. Now may be a good time to make a discounted purchase in this key area.
For those in need of a bigger incentive, or lower prices, Peterborough was identified as London’s cheapest commuter town in early 2024, with an average house price of £250,492[9]. More recent data from the ONS shows that prices have actually decreased in Peterborough, with the average house price sitting at £242,000 in June[10].
Expand Your Horizons
Evidently, there may be many best London commuter towns in 2024. Ultimately, there is no one right answer for which town takes take the top spot.
There are plenty of contenders, but each individual buyer/investor will have a best option defined by their circumstances, aims, and long-term vision. Also, the evolving nature of London’s green belt will likely require us to reconsider the question entirely. New commuter hubs could emerge over the coming months which simply weren’t there a few years ago.
We also shouldn’t forget that London isn’t the only major city worth targeting. Manchester, Cardiff, Birmingham and others have their own commuter towns, with their own pros and cons.
There is potential across England and Wales. Not every investment needs to be focused on the South East. This is why we have BDMs spread across the UK, to ensure all property investors and brokers have a local contact for their specific region. It doesn’t matter if a borrower is based in Exeter or Newcastle, we will have a dedicated contact for them, who will be able to meet for a coffee without issue. We can be called right now to get the ball rolling.
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[1] https://www.moveiq.co.uk/blog/buying/commuter-towns-london/
[2] https://www.hertsad.co.uk/news/24556192.st-albans-crowned-best-commuter-area-near-london/
[3] https://www.ons.gov.uk/visualisations/housingpriceslocal/E07000240/
[4] https://www.telegraph.co.uk/travel/destinations/europe/united-kingdom/england/london/londons-green-belt-beauty-spots/
[5] https://www.standard.co.uk/homesandproperty/buying-mortgages/best-green-belt-homes-for-sale-near-london-commuting-b1171306.html
[6] https://www.bbc.co.uk/news/articles/c6p2gj55vgxo
[7] https://www.telegraph.co.uk/business/2024/07/20/mapped-homes-most-likely-built-green-grey-belt-labour/
[8] https://www.telegraph.co.uk/money/property/house-prices/middle-class-commuter-town-suffers-biggest-house-price-fall/
[9] https://www.timeout.com/london/news/this-city-has-been-named-londons-cheapest-commuter-town-011624
[10] https://www.ons.gov.uk/visualisations/housingpriceslocal/E06000031/