A
landlord who has invested in rental properties throughout Chelmsford asked me
about the property market in her home village of Boreham. Boreham is village to
the north of Chelmsford, with great main road commuter links, being just off
Junction 19 of the A12.
What we
found out about the village was quite interesting. There has only been 44
property transactions in the last 12 months, with an average value of a
property in Boreham of £267,400. Being a typical village it has many expensive
streets around the edges and leading into the village, where the properties are
very large, detached and have names rather than number. The most expensive
street is Damases Lane, where an average property is worth in excess of £715,000.
On the
other side of the scale, the most affordable properties are nearer the centre
of the village. Shearers Way, with an average price of £136,000 and Hurrell
Down with an average price around £180,000, are a couple of the most affordable
roads in Boreham.
For
rental purposes, due to its location with easy access to the A12 and also the
closeness to Hatfield Peverel which has a train station linking to London
Liverpool Street means that it does still appeal to professionals. The two
roads that I have mentioned are quite popular with investors. Hurrell Down
comprises mainly of 1 bed starter type houses, which can be purchased in the
region of £140,000 and rent on average for £626 pcm. This would give you an
annual yield of 5.3%. Shearers way is a development of 1 & 2 bed
apartments. There has been more activity with the 1 bed apartments in the last
year, with them selling on average for around £100,000. With rents on the 1
beds in Shearers way averaging £600 pcm, means you could be looking at a yield
in excess of 7%.
This just
goes to show, that although Boreham is a village, it is not to be discounted as
a potential buy-to-let hot spot.
If you
would like to come and discuss property in the area, you are welcome to visit
our office on Duke Street or call me today!
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