It appears that Chelmsford has become somewhat of a property
hotspot, recording price rises of 12% in the last twelve months.
These figures, which have been released by estate and
letting agent Balgores Property Group, should come as no surprise as
Chelmsford has grown leaps and bounds since it was given city status back in
2012.
The average property price in Chelmsford currently stands at
a handsome £361,000, higher than the average price of an Essex home which is
£347,000.
Both of these figures also surpass the national average of
£294,000, meaning that even if you have an Essex property not located in
Chelmsford, you’re still likely to achieve a great price when you come to sell.
Even in the past four months or so we’ve seen a marked
increase in the amount of buyers looking for a Chelmsford property.
When buyers look to purchase a new property, location really
is everything. Chelmsford provides a cost-effective solution for those who
don’t want to live far from the capital. It is a wider commuter belt city, and
this is the primary reason why buyers are heading here in their droves.
Chelmsford residents are able to travel to London Liverpool
Street in just 30 minutes, where any other London location is easily
accessible. Additionally, even though there has been a marked increase in
property prices here in the last year, property in Chelmsford is still
decidedly cheaper than in many locations in the capital.
This area is therefore ideal for young couples or
professionals who wish to lay down some roots close to work without having to
fork out an arm and a leg.
Our director, Martin Gibbon, discussed this impressive
property price increase in the city and commented that: “this, coupled with the
fact that mortgage rates are still low, means that people are more likely to
pay the asking price, or a higher price, to secure their dream home. This, in
turn, is driving up property values.”
This increase in demand for property in and around
Chelmsford isn’t just from young professionals, either. The area has
wide-ranging appeal and in recent years the city has witnessed an influx of
families, thanks to its selection of brilliant schools and numerous open
spaces.
Chelmsford certainly isn’t an area which is sitting back and
relaxing either after witnessing significant increases in house price values.
Instead, different projects further improving infrastructure in the area are
being put in place. One of the key ways which Chelmsford is looking to develop
as a city is through updating its shopping and leisure facilities.
An exciting Bond Street retail development is coming
to fruition, and looks likely to be finished by the end of 2016. There will be
a selection of 32 shops, including a three-storey John Lewis, five popular
restaurants and a cinema in the city. This is set to attract more residents and
visitors to the area, while also providing more jobs.
If that wasn’t enough to entice buyers to the area, there is
also a new mega-housing development which will contain a range of family houses
located adjacent to parkland and popular schools.
Chelmsford’s versatility of appeal is what makes the area so
exciting, this Essex city has a bright future ahead of it, and is only set to
become even more popular for property buyers.
If you are considering putting your Chelmsford property up
for sale, or any other property in Essex, then why not contact the property experts at Balgores Property
Group today?
We’re highly experienced at selling property and know what the modern buyer is looking for.
Alternatively, if you would like to discover how much your
property could be worth in this fast-paced housing market, then enter your
details and get a free, online property valuation.
No comments:
Post a Comment