Living outside London is definitely cheaper. Apparently, the further away, the smaller house prices are. Here’s the math:
60 minutes to the city = minus £480,000 off the property price
40 minutes to the city = minus $372,255 off the property price
20 minutes to the city = minus £299,328 off the property price
House prices in commuter towns around London substantially cheaper
So choose how much time you are willing to spend on the road and make your savings budget!