Thursday 21 May 2015

Property values rise by £308 per week in Chelmsford

Last week, a landlord who lives in Springfield, came in to our office to discuss the rising property values in the Chelmsford area, he owns a varied portfolio of rental properties, primarily in Chelmsford and Braintree with one in Witham, so it is interesting to compare the increase in property values around the area.

Over the last 12 months in Chelmsford, average property values have risen from £300,798 to £316,855, a rise of £16,057 or £308 per week. When I looked at the other areas, Braintree has had a slightly lower increase in property values at around £287 per week, whilst Witham has only seen increases of around £173. It is nonetheless a rise in all the towns’ average property values, which suggests that the market is recovering quite nicely in our area, but especially Chelmsford. Good news for home owners and landlords alike.

When considering this landlords buy to let portfolio, yields can be in the order of an average 4% - 5% per year, depending where you buy, so combine that with steady rental growth, excellent increased in capital values of the properties themselves and it could be time to invest in the property market in Chelmsford as property values start to rise

If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking if investing in the rental market, please come and see me at our office on Duke Street, opposite County Hall in Chelmsford


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