First-time buyers booming in Essex

Across the UK, first-­time buyer sales rose at their fastest rate at the end of 2015, since August 2007, as the cost of owning a first home continued to fall, according to recent figures*. (*Source: Estate agents, Your Move and Reeds Rains).

An estimated 31,300 first-­time purchases were completed in November 2015, up 23.7% on the same month last year.  Leading Essex estate agents, Balgores Property Group, has seen a huge leap in the number of first time buyers, up by 28% year on year, across the county. 

Over the last 12 months, Basildon has seen the largest hike in first time buyers up 50%, followed by Brentwood up by 35%, Upminster up by 30%, Chelmsford up by 25%, Hornchurch up by 19% and Romford up by 10%.

Martin Gibbon, a Fellow of the National Association of Estate Agents and Group Director of Balgores Property Group comments: “We have seen a steep rise in demand for first time buyer properties across all our offices, with Basildon experiencing a huge hike of 50%.  Basildon is very attractive to first time buyers, with its affordable homes and great transport links into London.  It offers a direct service to Fenchurch Street, taking just over half an hour.

“Basildon has an excellent Sporting Village, which was originally constructed for the 2012 Olympics and is located in the picturesque Gloucester Park, as well as a good choice of schools and a thriving shopping centre.  Basildon has something for everyone.

“Chelmsford has seen first time buyers increase by a quarter over the last 12 months and it’s no surprise that it is so popular.  The City is constantly expanding and new businesses are moving to the area, including retail giants such as John Lewis and Waitrose. 

“The City’s dynamic is truly multicultural, but it still retains much of its original county town charm in many of the surrounding districts. In addition, the City enjoys some of the best schools in the county including New Hall, King Edward VI Grammar School and Chelmsford County High School for Girls.

“Brentwood is a vibrant town offering a great selection of shops, bars and good restaurants.  In addition, there are good quality state and private schools providing the best in education. Located amongst picturesque Essex countryside, with delightful local parks, Brentwood is an ideal retreat.  The town has convenient access to the city, both by road and train.”

For further information, contact your local office or visit www.balgoresproperty.co.uk.