Ask Londoners what they dislike most about living in the capital, and the majority will mention their journey to work. So it’s not surprising that more people are opting out of its ailing transport systems and finding a home within walking distance of the office.

Carsten Swift, a negotiator for Hamptons International’s City branch, reports that going to work on foot is becoming “increasingly popular”. He says: “Of those people who buy through us, 99% do so because they know they’ll be within 15 minutes’ walking distance of work. Even though there’s next to nothing to do in the evenings and weekends here, people are prepared to trade the lack of amenities on the doorstep for the certainty of the commute.”

Swift’s office covers the area bordered by Fleet Street, Tower Bridge, Clerkenwell and Shad Thames. He says commercial rents are becoming less lucrative, so as jaded workers look for a way to avoid their commute, companies are selling spare office space to residential developers. “At the moment we are advising the freeholders of three buildings close to the Bank of England — one law firm, one bank and one mixed-use office building — who are seeking planning permission to turn their properties into residential use.” Swift’s clients are prepared to sacrifice large amounts of living space to be close to the office. “A one-bedroom flat in the City costs from £220,000 to £250,000 and a two-bedroom flat between £280,000 and £300,000,” he says.

“And the vast majority are very, very small. Near to Clapham Common, for instance, for £250,000 you’d get a two-bedroom flat in a Victorian conversion, and it would be twice the size of a two-bedroom in the City.”

David Harrington-Lynn, a 30-year-old software developer, lives in Wapping, east London, and walks the 1½ miles to Fleet Street from his home every day. “I bought the flat to make sure I could always get to work on time. Tube strikes have made it such a big win; now that I live here there’s nothing the transport situation can throw at me,” he says.

It’s not only City workers who are moving to be closer to their job. Tom Tangney, a senior negotiator at Knight Frank’s Kensington office, is in the process of finding a house for a client who works in Hammersmith, west London, and wants to be near enough to his office to walk or cycle. “My clients are prepared to pay an extra £50,000 for a flat or £100,000 for a house that is in just the right place for them,” he says. “When you consider how much property costs here, it’s not so much.”

Lauretta Ciuffardi, 26, fell into walking to work almost by accident. She accepted a job as an operational researcher at an office in Waterloo in November last year and then began looking around for somewhere to live. When she saw an advert for a flat behind Waterloo station, just south of Westminster Bridge and 10 minutes’ walk from work, “it was a no-brainer,” she says.

She acknowledges the location has disadvantages: “When I go a bit further out of London, even to quite built-up areas, I can smell that it’s spring in the air, for example. You can’t smell that where I live.”

But the plus points more than make up for it: “I’m not just close to the office, all the places where I go drinking after work are within walking distance of the flat. This area is getting increasingly popular and so we’re getting more amenities.”

For those who live a little bit further away from the office, the key to a successful walk lies in the preparation. Katy Liles, 31, works in corporate finance for Virgin Mobile and goes on foot every day from her loft apartment in Clerkenwell to her office in Leicester Square. She points out that you have to wear sensible shoes all day or remember to take a spare pair with you. It’s also worth investing in a waterproof coat: “It’s chaos trying to control a large enough brolly while negotiating other people on the pavement.”

Liles is planning to sell her flat, which is on the market for £299,950, but won’t consider moving anywhere that means using the Tube every day.

But though walking may bring lifestyle benefits, says Carsten Swift, it shouldn’t be chosen for financial reasons. “It’s a false economy,” he argues, the only real saving being the £784 it costs for an annual Tube pass for zones one and two. Mind you, that leaves plenty of spare cash for sensible shoes.

Explore Property

• Buying & Selling

• New Homes

• Overseas

• Interiors

• Investment

• Gardens

• Cool In Your Code

• Specials

• First-time buyer

Times recommends

• Second homes: credit crunch casualty or money-spinner?
• How I built my own sliding house
• Top 10 incentives for house buyers