FTBs ''forced into long commutes''


Tue 2nd Oct, 11:18:56 BST

High property prices in UK cities and towns are forcing first-time buyers to move further away from their work and spend more time commuting, it has been claimed.

Abbey Mortgages said that while research shows the average commute is 45 minutes, some buyers are willing to travel for longer in order to buy a property, with 15 per cent willing to spend an hour on the move and seven per cent prepared to travel for an hour and a half.

A further two per cent of respondents said that they would spend up to two hours travelling to work to secure a house.

Sue Hayes, Abbey director of mortgages, said: "The current level of prices inside Britain''s major towns and cities mean more and more first time buyers are finding that they have to buy further than they''d like from their workplace."

People in London were found to be the most willing to travel, with the average person ready to spend 52 minutes commuting, something Abbey speculated was down to high house prices in the capital.

According to the latest regional house price statistics from the Halifax, the average price of a home in London stands at £313,122, almost £120,000 more than the national average.ADNFCR-1143-ID-18301212-ADNFCR


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