According to new researches  homeowners living 60 minutes outside of Central London could pay up to 60% less for an average property.

Data reveals that workers in Central London can save an average of £483,342 by commuting up to an hour each day from areas such as Windsor ,Basingstoke, Crawley, Gravesend and Northampton.

Prices in these areas are on average around £325,091 – a whopping £483,342 lower than the average of £808,434 for a property within travelcard zones 1 and 2. This is also significantly lower (£202,424 or 38%) than the average property price in zones 3 to 6.

The difference between house prices for commuters travelling approximately 60 minutes would pay for the current annual rail cost (£5,381) for 90 years.

A 40-minute commute could save homebuyers £375,114 (46%)

Homebuyers looking to buy a home in towns approximately 40 minutes away, such as Billericay, Hatfield, Staines and Woking, will pay an average price of £433,320 – which is still £375,114 (46%) lower than in zones 1 and 2 – and with a lower average annual rail pass costing £3,775.

The difference of £375,114 would pay for the current annual rail cost for almost a century.

A 20-minute commute will save homebuyers £295,075 (36%)

Even at up to twenty minutes distance away from the heart of the capital, commuters from towns such as New Cross and East Croydon benefit from an average house price £295,075 lower than in Central London. This is enough to pay the current annual rail cost of £2,551 for 116 years.

Commuter Towns Bucking the Budget

Some areas, such as Beaconsfield command a higher price tag than Central London and, although rare, these commuters to Central London live in areas that command higher house prices. Residents of Beaconsfield, who pay an eye-watering average of £1,025,699 compared to the average price house price of £808,434 in Central London, a difference of £217,265. Gerrards Cross (£917,585), Harpenden (£813,298) and Wimbledon (£814,420) also top the Central London average.

Although many commuter towns offer affordable properties, but with longer and more expensive journeys, the decision to commute is not simply a trade-off between financial costs and journey times. Quality of life is an important consideration. Family circumstances, schools, physical environment and value for money all come into the balance.

The most affordable commuter towns outside of London

Wellingborough in Northamptonshire offers an average house price of £212,367, 4.4 times average annual earnings in Central London (£48,281) compared to 6.1 times the average wage for those working within Wellingborough (£34,563).

The next most affordable is Peterborough in Cambridgeshire, with an average house price of £218,713, (4.5 times Central London average annual earnings), followed closely by Kettering in Northamptonshire (£223,725 and 4.6 the Central London average) – a considerable difference to the average annual earnings of those working in Peterborough and Kettering (both 7.0).

Luton is the most affordable town with the fastest commute to Central London ( aprox 30 minutes), with an average house price of £261,725 which is 5.4 times the average earnings.

Commuters in the 10 most affordable towns are earning, on average, £12,609 more than they would in their place of residence (£35,672).