Analysis by the property agent comparability website, GetAgent.co.uk, reveals that places of excessive worth the place property costs are involved, as a rule, include heavy site visitors congestion within the speedy surrounding space.
In England, the typical home worth at present stands at £284,029 whereas the nationwide common site visitors delay on any given journey is 44 seconds per automobile per mile. GetAgent’s analysis has used these nationwide averages as a springboard to analyse the varied areas of England and examine common home costs to common site visitors delays. The general discovering is that the upper the typical home worth, the longer the typical site visitors delay within the surrounding space.
For instance, London has the very best common home worth in England, at present standing at £510,299. The capital additionally has the heaviest site visitors, with every mile of a car-based journey coming with a mean congestion delay of 110.3 seconds.
Nonetheless, to actually perceive the connection between home costs and site visitors congestion, it’s finest to analyse the information on a nationwide degree. Utilizing this system, GetAgent has been capable of mix the typical home costs for all places round England the place common site visitors delays attain over 100 seconds per mile to disclose that places with such a site visitors delay have a mean home worth of £603,596.
Because the site visitors delay time decreases, so too does the typical home worth. The areas of England the place site visitors delays vary between 80 – 99.9 seconds per minute have a mixed common home worth of £341,989, and areas with site visitors delays of 60 – 79.9 seconds per mile have a mean home worth of £256,909.
This pattern continues all through the information. Common site visitors delays of 40 – 59.9 seconds per mile carry a mean home worth of £237,784; delays of 20 – 39.9 seconds carry a mean worth of £234,423, and delays of 0 -19.9 seconds carry a mean home worth of £204,816.
Which means that the extra money somebody spends on their residence, the extra time they’re going to need to spend sitting in site visitors.
This pattern of excessive costs equaling heavy congestion is essentially influenced by the truth that properties in cities are usually costlier, on common, than properties in rural areas. With metropolis dwelling, one might need to endure heavy site visitors however may even have easy accessibility to outlets and facilities. Rural dwelling, alternatively, can supply lighter site visitors and cheaper properties, but in addition will increase the space to outlets, eating places, and locations of labor which is why on a regular basis congestion is way decrease.
Founder and CEO of GetAgent.co.uk, Colby Quick, commented: “We’ve seen the will for rural dwelling rise in the course of the previous eighteen months as metropolis dwelling has more and more fallen out of favour with homebuyers.
“Whereas commentators have supplied quite a few causes for this pattern, from cheaper home costs to a want for extra out of doors area, this new discovering concerning the relationship between congestion and home costs provides one other doable motive for town exodus.
“The truth that costly metropolis properties invite larger well being dangers may affect much more patrons to go for the clear air, mild site visitors, and reasonably priced properties of regional England.”
