So called Affordability Maps have just been relased and I've been asked for my comments. On Friday I joined Paul Chapman from BBC South on Basingstoke Station to be interviewed and we have also discussed them on BBC Radio Surrey, Wiltshire and Sussex as well as BBC London. They have been produced by merging huge quantities of recently released data and interestingly show that in some areas it is cheaper to live further away from London.
The data used was Average Mortgage Payments (based on a £65,000 deposit) and Season Ticket. The maps also show increases over the past year.
As I see it they are useful if taken alongside all other aspects you use to do your research. I don't know many people making their decision to move out of London based soley on the financial aspect but we do know it comes into the process. Therefore these maps might help, they might inspire you to look at different areas and also show which stations work out the most expensive/slightly cheap options. All the maps definitely remind you to consider season ticket costs in your assessment of moving out. Some areas saw a 7% annual rise, that's a whole heap of extra cash so make sure you factor that in to your moving decision.
Now - the maps...with thanks to Steer Davies Gleave, RPS, Land Registry and Openheatmap.com. Please click on the maps to view a larger copy.
Let me know if you'd like to discuss further.