High property prices force first-time buyers out of cities

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by Kay Murchie

According to research from Abbey, first-time buyers are being forced to commute further than they would expect as high property prices push them out of cities.

Research from Abbey showed that a typical first-time buyer is willing to travel 43 minutes to get to work from a new house. The RAC, however, places the average commute in the UK at 45 minutes.

At least 15% of those questioned are willing to make the sacrifice by travelling for an hour to get to work each day. A further 7% would be willing to commute for 90 minutes whereas 2% are willing to make a 2 hour commute.

Average house prices are highest in London and the research established that first-time buyers here are the most willing to travel. Three times as many people in the capital are willing to travel for 90 minutes compared to the national average.

A spokesperson for Abbey said that an increasing amount of first-time buyers are finding that they have to purchase a home further than they’d like from their workplace. The spokesperson concluded that first-time buyers are not totally aware of how far they may have to travel each day in order to get a foot on to the property ladder.