Whether it’s the ability to fit some extra exercise into your daily routine, avoid being crammed onto public transport (especially in summer), or simply to save a bit of money, being able to walk or cycle into the office has long been seen as a welcome bonus.
As physical and environmental awareness grows, TFL bikes have grown ever more popular; many businesses are also offering cycle to work schemes. And the current pandemic has brought this form of commute into even sharper focus. The question is, where in London are the best places to buy a home for cycling or walking to work and how much might it cost?
Our new research (see table below) highlights the most and least affordable hotspots within half an hour’s walk or cycle of three of London’s biggest work hubs: the West End, City of London and Canary Wharf.
The West End
Considered by many as the centre of the capital, London’s famous West End is a world-leading destination for retail, dining and entertainment with its abundance of shops, restaurants and theatres. It’s also where a large number of Londoners work.
Our research shows that for those wanting to walk to work in the West End, the most affordable place to buy is St Pancras & Somers Town, where the average price for a home is £582,110. Meanwhile those wanting to cycle should buy in New Cross where the average home costs £381,813.
The City of London
The London we know today grew from the historic City of London, or Square Mile, which was established soon after the Roman invasion. Initially known for trading at coffee houses in the 17th century, today the area is internationally renowned as a hub for some of the biggest financial institutions including the Bank of England, London Stock Exchange and Lloyds of London.
City workers looking for the most affordable walk to work should consider buying in Shadwell, where the average home is £389,489. Those who want to cycle to the office in under 30 minutes should look at Canning Town North where the average home is £327,633.
Canary Wharf
Developed in the early 1990s on land that was previously the heart of the capital’s shipping industry, Canary Wharf is now the secondary central business district of London. And as such it is one of the capital’s busiest areas for commuters.
Our research has found that Abbey, in the borough of Barking and Dagenham, offers the most affordable area from which to cycle into Canary Wharf. Here the average price of a home is £268,100. For those looking to commute on foot, Canning Town South is the most affordable with the average price of a home standing at £379,133.
Below is the full list of the most and least affordable areas to walk or cycle into all three hubs, along with the list of the overall average house price for this type of commute.
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