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House prices force buyers to commute

First time buyers are being forced to commute because they have been priced out of the market in the areas where they work, according to research from Abbey mortgages.The maximum journey time that new buyers want to take to their workplace is 43 minutes, but they are having to change their expectations - the study found 15 per cent said they would travel up to one hour each way, seven per cent would sign up for a one hour 30 minute commute and two per cent would be prepared to travel a gruelling two hours to work everyday.London and the surrounding areas were the worst area, with the highest house prices - three times as many Londoners would be prepared to travel an hour and a half to work.Sue Hayes, Abbey's director of mortgages, commented: "The current level of prices inside Britain's major towns and cities mean more and more first time buyers are finding that they have to buy further than they'd like from their workplace. "Even so, our research shows that many first time buyers are still not fully aware of how far they might have to commute each day in order to get onto the housing ladder."

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