Thursday 5 February 2015

A Few Facts about The Property Market in Boreham, Chelmsford

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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