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  • Entrepreneurs

    Where is cheapest place to buy a property that has the fastest time into London?

    Train time into London I mean!

    I notice that Portsmouth trains take around one and a half hours and flats are around £75,000.

    Stevenage flats are around £100k for a one bed and the train takes about 25 minutes.
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    Isn't there an issue with the cost of the train fares!?
    Cheapest property didn't always work out best for tenants
    So slightly more expensive properties with lower fares and maybe same travel times
    Fares are a massive cost liability and severely impact on tenant affordability of rents
    So perhaps check out train fare costs and buy where fare costs are cheaper?
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    (25-05-2015 03:14 AM)paul_barrett Wrote:  Isn't there an issue with the cost of the train fares!?
    Cheapest property didn't always work out best for tenants
    So slightly more expensive properties with lower fares and maybe same travel times
    Fares are a massive cost liability and severely impact on tenant affordability of rents
    So perhaps check out train fare costs and buy where fare costs are cheaper?

    Good Point. So it would be the place with the fastest train time, then cost to buy or rent a home per month added to 20 return train tickets for the month.

    (25-05-2015 08:01 AM)Vanessa Warwick Wrote:  Have a look at ....

    What are the limits of London's commuter belt?

    I believe that Essex, Kent, and East Sussex have untapped potential.

    Hastings, for instance, is getting a new faster train service into London.

    I read recently that travel times are the most important thing to house hunters. i.e. a station could be further away from London, but have a faster train journey, and would therefore be more popular than the station closer to London.

    Zoopla has a "travel time" search option.

    I think it would be interesting to do some research into train times into London and property prices - there is some on the thread I linked to about the commuter belt.

    From a similar discussion on Facebook:

    Nuneaton....1 hr 4 mins in peak time via Virgin Pendelino.....2/3 bed terraces sell for 80-100k and generate 400-550 per month rent.....

    Coventry and Nuneaton, Rugby is the best bet- 50mins to Euston, right on the m1 and m6, but prices have risen quickly recently.

    A couple of resources:

    Travel Time

    Mapumental

    Both these find properties based on commute time.

    It would also be a good idea to look in places where transport links are set to improve.

    For example, a new high speed train link is going to slash the time it takes to get from Bristol and Bath into London. It becomes operational in 2016.

    See - Brand new property hotspots - read all about them!

    Thanks Vanessa, I will checkout all that wealth of info you have kindly provided for us tribes people, in particularily untapped future potential that will be opened up by new and faster rail links. I would personally trade in a little on ticket price if I was paying a lot less in comparison for the house and a quicker time into London.

    Nice to see you up early on this Bank Holiday!
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    Have a look at ....

    What are the limits of London's commuter belt?

    I believe that Essex, Kent, and East Sussex have untapped potential.

    Hastings, for instance, is getting a new faster train service into London.

    I read recently that travel times are the most important thing to house hunters. i.e. a station could be further away from London, but have a faster train journey, and would therefore be more popular than the station closer to London.

    Zoopla has a "travel time" search option.

    I think it would be interesting to do some research into train times into London and property prices - there is some on the thread I linked to about the commuter belt.

    From a similar discussion on Facebook:

    Nuneaton....1 hr 4 mins in peak time via Virgin Pendelino.....2/3 bed terraces sell for 80-100k and generate 400-550 per month rent.....

    Coventry and Nuneaton, Rugby is the best bet- 50mins to Euston, right on the m1 and m6, but prices have risen quickly recently.

    A couple of resources:

    Travel Time

    Mapumental

    Both these find properties based on commute time.

    It would also be a good idea to look in places where transport links are set to improve.

    For example, a new high speed train link is going to slash the time it takes to get from Bristol and Bath into London. It becomes operational in 2016.

    See - Brand new property hotspots - read all about them!
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    At the moment I have found a three bed house for £115,000 (say £287 pcm a month for an interest only mortgage at 3%) Northampton, journey time around one hour: Link Cost of jouney about £7 each way on the train. (£14 x 20 days = £280pcm) Total per month = £567

    and a three bed house in Grantham for £70,000 (say £175 pcm for an interst only mortgage at 3%) link with a journey time around an hour but costs around £42 (£42 x 20 days = £840 pcm ) return on the train. Total per month = £1015

    So the winner, (at the present time) on this one hour journey time from London is---- da daaaa

    Northampton!
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    How did you arrive at the cost of £7 each way on the train Northampton-Euston? That seems cheap even for 265 days usage/ annual season ticket.

    Are you looking into this question for a choice of personal residence, or some sort of BTL reasoning ?
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    Yes, I was also wondering why Trev was adding train fare (a cost borne by the tenant) to mortgage repayments (borne by the landlord).
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    I imagine Trev has got his "capital growth" hat on and is trying to research areas that will benefit from people moving outside of London because it is becoming increasingly expensive. Any significant capital growth creates a "ripple" effect as less expensive areas in the vicinity become more popular because house prices are lower.

    Hopefully Trev will be along to explain his reasoning. Smile
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    (26-05-2015 09:45 AM)Vanessa Warwick Wrote:  I imagine Trev has got his "capital growth" hat on and is trying to research areas that will benefit from people moving outside of London because it is becoming increasingly expensive. Any significant capital growth creates a "ripple" effect as less expensive areas in the vicinity become more popular because house prices are lower.

    Hopefully Trev will be along to explain his reasoning. Smile

    Hi, Yes I will explain, I was thinking capital growth I suppose. Its just that the link to the 115K house I found in Northampton happened to be on a tanancy. Thanks guys for all your inputs on this, it makes lots of interesting reading. I noted the one with a 25K place near the future HS1 but I wonder what the ticket prices will be, for example if the prices for this High Speed facility outweigh the benefits of it---Possibly!

    Actually after a nice relaxing bath I think that I was just trying to identify the quickest and cheapest place to commute to from London. There are so many variables and no set rules and so I thought of the yardstick of one hour. Once the cheapest place was identified then that would be one of the best areas for future growth in my reasoning. I provided the links so that it was not just conjecture and the ticket prices were what I found on the same day.
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    (26-05-2015 04:09 PM)TrevOfHucknall Wrote:  
    (26-05-2015 09:45 AM)Vanessa Warwick Wrote:  I imagine Trev has got his "capital growth" hat on and is trying to research areas that will benefit from people moving outside of London because it is becoming increasingly expensive. Any significant capital growth creates a "ripple" effect as less expensive areas in the vicinity become more popular because house prices are lower.

    Hopefully Trev will be along to explain his reasoning. Smile

    Hi, Yes I will explain, I was thinking capital growth. Its just that the link to the 115K house I found in Northampton happened to be on a tanancy. Thanks guys for all your inputs on this, it makes lots of interesting reading. I noted the one with a 25K place near the future HS1 but I wonder what the ticket prices will be, for example the prices could outweigh the benefits of the HS1---Possibly!


    This report by Hamptons International makes interesting reading. They use the HS1 & HS2 rail projects as case studies to analyse house price fluctations within striking distances of new (and, presumably, improved or improving) rail stations; before, during, and after works:

    https://www.hamptons.co.uk/media/193247/hs2-hamptons.pdf
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    07 42 777 88 79  Property researcher & collaborative sourcing assistant - consultancy & mentorship at times, by request First Finders (residential & commercial land & property: UK, & abroad) Wessex Property Management Services (facilitation & advisory service for property owners) Golden Gate Gardens (specialist garden and landscape design service)

    (26-05-2015 04:27 PM)Brian Heath Wrote:  
    (26-05-2015 04:09 PM)TrevOfHucknall Wrote:  
    (26-05-2015 09:45 AM)Vanessa Warwick Wrote:  I imagine Trev has got his "capital growth" hat on and is trying to research areas that will benefit from people moving outside of London because it is becoming increasingly expensive. Any significant capital growth creates a "ripple" effect as less expensive areas in the vicinity become more popular because house prices are lower.

    Hopefully Trev will be along to explain his reasoning. Smile

    Hi, Yes I will explain, I was thinking capital growth. Its just that the link to the 115K house I found in Northampton happened to be on a tanancy. Thanks guys for all your inputs on this, it makes lots of interesting reading. I noted the one with a 25K place near the future HS1 but I wonder what the ticket prices will be, for example the prices could outweigh the benefits of the HS1---Possibly!


    This report by Hamptons International makes interesting reading. They use the HS1 & HS2 rail projects as case studies to analyse house price fluctations within striking distances of new (and, presumably, improved or improving) rail stations; before, during, and after works:

    https://www.hamptons.co.uk/media/193247/hs2-hamptons.pdf

    Thanks Brian, It does make intersting and somewhat surprising reading. I am not surprised by a downturn in prices around the Chilterns though, especially Wendover as the area would be slightly downgraded by the HS2 work, furthur away is a totally different picture of course, but again it depends on the ticket prices.

    (26-05-2015 01:36 PM)David Price Wrote:  I have just purchased a small flat in good condition, within walking distance of an HS1 station, for under £25,000. And no I am not going to say where, I want to buy more. Smile



    Thanks for that tip David. Could you tell me what stations are on the HS1 route please?
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