LONDON commuters are flooding the Swindon property market after the town was named one of the most affordable places to buy a home.

A study by Lloyd’s Bank on the UK’s cheapest commuter towns revealed city workers buying homes in Swindon will save on average £400,000 compared to central London property prices.

The average cost of a home in the town is £191,252 compared to £722,000 in London, meaning more workers are choosing to settle outside of the capital, despite facing the £8,200 cost of a season ticket.

Ross Sutton, director at Old Town’s Richard James estate agents said people are starting to realise how much more they can get for their money in the town.

“Over probably the last 18 months to two years, we’ve sold a lot of properties to people choosing to leave London.

“We’ve seen an increase in properties sold that are along the motorway commuter belt. People are realising now that they have more options when buying a house.

“The truth of the matter is, you are going to get a lot more for your money in Swindon and Wiltshire than buying in London.

We’ve seen a significant increase in people who have high powered jobs in the city and choose to buy property in the small areas surrounding Swindon such as Broad Hinton and Wroughton,” he said.

Ross said London commuters settling in the town tend to favour larger more expansive properties with big gardens that would be otherwise unrealistic in the steep London property market.

He said: “In Swindon you have the option of five bedrooms, a large garden, conservatory that you just don’t get in London without a huge price tag slapped on top of that.

“For many people, especially if they have young families, it’s a nobrainer.”

With the electrification of the railways underway, Ross said he believes more city slickers will choose to snap up a bargain in Swindon.

“I definitely believe this increase in people property hunting in Swindon is going to continue in the next few years.

“An hour into London is definitely something people are prepared to do if it will save them money,” he said.

In the study, Wellingborough in Northamptonshire came out as the cheapest commuter town, with an average property going for £160,425.