The towns where house price rises cover the cost of an annual rail ticket in just EIGHT days
House price rises in Esher, Surrey and Solihull, Birmingham mean that homeowners could pay for their annual rail ticket in just over a week
HOUSE prices are rising so fast that they could help commuters pay for their annual train ticket in just eight days, new research claims.
Homeowners in Esher, Surrey and Solihull, Birmingham fare best as they would be able to pay for annual rail costs in just over a week, according to the research by Zoopla.
The average property price in the suburban Surrey area – where commuting into Waterloo takes half an hour – has gone up by £256.66 a day, a rise of 9.25 per cent.
Although, the average property price now sits at an average of 1.1million – so, prospective homebuyers would need deep pockets to afford a home in the area.
Meanwhile in Solihull, house prices have increased by 8.98 per cent – around £31,149 in a year or £85.11 a day – and the average price sits at £377,890.
It means that commuters would be able to pay off the cost of their annual train ticket in nine days.
The data compares the average increase in house prices in popular commuter towns last year with the cost of the annual rail fare to major employment centres nearby.
Esher is not the only London commuter location where house prices are rising. The research also picked out nearby Surbiton as well as Tanbridge.
Despite boasting cheaper rail fares, lower house prices in Northern England and Scotland mean that it could take longer for homeowners to pay off the cost of their annual trail fare.
Stockport is the best performing commuter town in the north, thanks to a 8.46 property increase last year – adding £19,588 to the average house price.
This means it would take 15 days to pay off the £792 annual rail fare to Manchester.
While Musselburgh takes the top spot in Scotland – where house prices would eclipse the £644 yearly rail fare to Edinburgh in little over 18 days.
However, property owners in Greenock, Glasgow face the longest wait, taking almost a full year (328 days) to pay off their annual travel.
Lawrence Hall, spokesperson for Zoopla, said: “Rising rail fares will have been unwelcome news for commuters heading back to work this week, but our figures may at least soften the blow slightly for those already living in the suburban locations at the top end of the table.”
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