According to a recent YouGov survey, 57% of Brits want to continue working from home – at least some of the time – after the pandemic.
This is already having a major impact on the housing market. Rents in many London central neighbourhoods have dropped significantly over the last year as proximity to the office is no longer such a priority.
Coastal towns and peaceful country villages have soared in popularity as #WFH has become standard practice. Now, new research reveals the sizeable savings renters can make by moving from the city centre to a well appointed suburb.
The research by thinkmoney is based on the cost of renting a two-bed property rather than an individual room.
By moving from Leeds city centre to Hosforth just five miles away, two-bed renters can save around £450 a month. By moving from central Manchester to Sale five miles away, they can save around £385.
In Nottingham, Bristol and Birmingham, the savings come in at around £250 a month.
Not surprisingly, the rare Londoner who can afford to rent a two-bed flat in the city centre would save thousands each month by moving to Welwyn Garden City in Hertfordshire, which is around a 45-minute train ride from Euston.
It’s worth noting, though, that London’s astronomical average city centre rent of £4,302 is based on two-bed properties in W1. This neighbourhood is so central that your local shops would be on Oxford Street and your local pub would probably be in Soho.
Jonny Sabinsky of think money said in response to the results: “Our research has uncovered the staggering savings Brits can make by moving just a few miles away, especially in the likes of London, Leeds and Manchester.
“And with the downfall of the daily commute due to the pandemic, it feels like a no-brainer for people looking to make the move away from the city centre, or struggling to save for their new home.”
Check out the savings in 10 major English cities below.
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