Commuterville seems set to be one of the words of the year in the property market since relocation here became one of the top trends of 2023, as our research reveals.
The Commuterville definition covers small-to-medium-sized towns surrounding cities, with a mix of character, convenience and green spaces. They are ideal for the new post-pandemic pattern of working life, being served by faster commuter trains, or situated about 30-45 minutes drive from a city centre.
Commuterville hotspots include Saffron Walden, the medieval market town 15 miles south of Cambridge and Witney, a similarly historical town 12 miles west of Oxford. Clacton-on-Sea in Essex is 33 minutes from Colchester.
While 2021 and 2022 were characterised by mass outmigration to the countryside, data for the early part of 2023 suggests that this trend is unwinding. This year, more country bumpkins traded in the rural countryside for the suburbs, rather than moving all the way back to a city.
So far this year 39% of those moving from the deepest countryside headed for Commuterville, up from 28% in the first quarter of 2022. The partial return to the office meant that Commuterville fits the bill far better for city workers than some of the far-flung rural hideaways that were popular among people seeking more living and green space at the height of the pandemic.
However, they aren’t the only ones. It appears movers from other small towns as well as bigger cities are also heading to more suburban zones. With prices in some of the smallest towns having seen some of the strongest price growth over the last few years, 10% more movers are heading back to commuterville, with a further 7% moving in the opposite direction to pastures green.
Commuterville often provides a more affordable option than the suburbs for those seeking a larger property with a garden. While the typical property value in Saffron Walden is £460,950, the average price in Clacton-on-Sea is £276,300.
Price growth is likely to slow this year in all regions, but the slowdown in Commuterville seems set to be more limited than elsewhere. With average prices in these locations up 5% so far this year, this means that Commuterville ranks as the fastest-growing group in terms of price growth in 2023, overtaking the countryside which has dominated for the last four years.
Some Commuterville places were already sought-after. Others are on an upwardly mobile journey. But, whatever their status, such is their desirability that prices have appreciated handsomely, with the top 10 locations having seen rises of 16-19% in 2022, as our table highlights
Their ascent can be attributed largely to the altered working life of many employees. In many cases, they are required to be in the office for just two or three days a week. This means that they need a property that has sufficient space for home working, situated in a location that is an easy-enough commute to their workplace.
The Commuterville phenomenon should be seen against the background of wider property market trends since the global financial crisis of 2008-2009. Prices in cities rose furthest and fastest between 2009 and 2014. Property values in London and other cities in the South of England recovered quickest, causing growth to ripple out to other regions. Commuterville locations were the top performers between 2015-17 before smaller towns and villages then took the lead in 2018. Rural locations leapt to the front in 2019- 22, propelled by the pandemic, although prices in these places had already begun to pick up before lockdowns were imposed. In 2023, it seems like more buyers will be viewing Commuterville as the perfect compromise in a challenged market.
