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London Housing: Going the Extra... Minute | CNBC International

London Housing: Going the Extra... Minute could save you a lot more on London house prices. CNBC finds out more. Subscribe to CNBC International: The first ever World Cities Day is upon us, focusing on the challenges posed by urbanization. For London house-hunters, time is money as a new report found that an extra 1 minute commute time could save potential house buyers over 11,000 pounds. In the last quarter, London house price growth continued to outperform other regions with the average price of a London property currently standing at 530,000 pounds according to real estate research firm CBRE. But leaving the hustle and bustle behind for a property a mere 20-minute commute away will cut the price tag by over 100,000 pounds and settling down 30 to 35 minutes away will shave off a third of the property price. However, garden-cities projects are being heralded as a potential way to provide affordable housing around London, prices could soon skyrocket there too. In fact, the South East region should experience the highest increase in property prices over the next five years outpacing national and London averages. And cities within easy commuting distance of London should record the fastest growth. By 2019 prices in Southampton should have grown 43%, adding an extra 100,000 pounds to current prices. Other areas to experience record house price growth include Luton and Brighton. Like us on CNBC's Facebook page Follow us on CNBC's Twitter accounts

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