Grantham named as one of the best value commuter towns in the country
Grantham has been named as one of the best value commuter towns in the country.
The Sunday Times used data provided by Savills estate agency to crunch the numbers on the 12 most popular commuter lines out of London.
The results rated Grantham 12th out of the top 20 for the best value property and easy access to the capital.
Travel time, the cost of a season ticket, the average asking price for a four-bedroom house and the mortgage repayments, based on a 75% loan-to-value deal at a 3.75% interest rate, were taken into account when adding up the sums.
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This made the annual cost of living in Grantham and working in the city £13,691 a year.
In the top spot was Sittingbourne, in Kent, with an annual cost of living in the town and working in London £10,628 and in 20th place Farncombe, in Surrey, which was nearly £7,000 more expensive than Grantham.
Linda Neal, leader of South Kesteven District Council, said the article in the Sunday Times picked up on two of Grantham's strongest selling points, good grammar schools and reasonably priced property.
Cllr Neal said: "We have known for some time that Grantham, and indeed the rest of South Kesteven, offers a good quality of life but it's hugely encouraging to see this confirmed by one of the country's top estate agents and promoted nationally.
"It's an ideal location for people looking for an escape to the country yet within easy access to work in London and all the other things that make a town a great place to live - like top class education, good housing and a superb cultural offer."
Savills said it has seen an 'upsurge' in the number of people relocating to Grantham.
Rupert Fisher, a residential director for the company, said: "The secret is definitely out.
"We had a fantastic year in 2012 with an increase in buyers looking to move out of the city to the Grantham area, particularly along the A607 villages but also lots of other locations in between.
"They are finding that they are able to sell a property in London for say £1m and buy a more spacious home here for £500,000, or under, and have an amazing standard of living."
Rupert has personal experience of life in Lincolnshire as he too sold a property in the south and bought here for a lot less.
He said: "I moved from London seven years ago where I lived in a two-bedroom flat and was able to buy a five-bedroom house."
Stephen Binder, manager of Fine and Country in Grantham, agreed that the area is attracting buyers from London, particularly families, who are able to get more house for their money as well as a good education for their children.
He said: "House prices in London have gone up where as in Grantham they have levelled out which means the difference is even greater.
"Instead of a two bedroom flat with no garden in London for about £365,000, families can buy a good four-bedroom property with double garage here for £250,000."