Prime Real Estate: Should You Choose London or the Surrounding Area?
If you are thinking about buying prime real estate in the south east of England, you may be torn between buying a property in London or in the surrounding area. Although London is often one of the most popular areas in the country, is it the right choice for you? There are advantages and disadvantages of choosing London compared to living in one of the surrounding counties, so here are some of the issues you may want to consider.
Sky-High Property Prices in London
London is the most expensive place to buy a property in the UK. And according to the Royal Institution of Chartered Surveyors (reported here in The Guardian), house prices will increase by 30% in the capital over the next five years. That is good news if you are buying a property as an investment, but you may find that you get a lot more for your money if you live outside London.
The Daily Mail recently looked at some of the advantages of living outside London, and using Lloyds Banking Group data it suggested that you could save £380,000 on your property if you are prepared for a one-hour commute into work. It suggests that by buying in Wellingborough, which is a 53 minute train journey from London, the average home price goes down £490,600.
Another article in The Guardian reports that many families in London are now moving to the Home Counties in order to cash in on the rise in house prices and buy properties in Kent and Surrey, where they can get more for their money.
Why Else Choose Surrey, Hampshire and Berkshire?
Aside from the lower average property prices, Surrey, Hampshire and Berkshire all offer many potential benefits when you are choosing where to live. Indeed, Surrey often tops the chart as one of the best places to live in the UK. Elmbridge in Surrey, which is known as the ‘Beverly Hills of Britain’, was named the best place to live in the country back in 2011. Hart in Hampshire and Wokingham in Berkshire were second and third places on the list respectively.
There are many reasons why they are so popular. For one, travelling into London from any of these areas is easy because of the short distance and excellent transport connections. So whether you work in London or you simply want to visit the West End regularly, travel is not going to be an issue.
International links are also excellent, with both Gatwick and Heathrow airports close by. By road you can also connect to the M25 with ease.
Despite their close proximity to London, all these counties provide the opportunity to live a rural lifestyle surrounded by beautiful scenery and plenty of space. You will find woods, heathland, lakes and more, with thousands of acres of countryside to enjoy. In addition, traffic levels are much lower than in London, and parking is also cheaper.
You may also find that there are more rural-style houses for sale compared to London., so if you’re looking for a traditional cottage or timber-framed property with a large garden, this could be easier to find.
Make the Right Decision for You
Despite the potential benefits of living outside of London, of course you may simply prefer living in the city. London is one of the most exciting cities in the world, packed full of museums, restaurants, theatres and parks. The question is whether you would be happy to travel into the city occasionally rather than making it your permanent home, and that is one of the main factors you will want to consider when making your final decision.
If you are currently considering buying or renting a residential property an independent home search consultancy could help you to source and secure the ideal property and guide you through the transaction process.
Call Richard Mottley on 0800 999 5758 or 07769 32 57 58 for further information or submit an enquiry here: http://sanderlinghomesearch.com/contact