I was talking to someone who lives in one of those modern 4 bed detached houses in Chelmer Village, at the Southern end with the views over the countryside and the River. Chelmer Village was primarily built in the late 1980’s / early 1990’s and offers mostly larger executive detached houses at the Southern end of the area and with smaller detached houses, semis and town houses in the rest of the area (not forgetting some further posh ones around Chancellor Avenue area). Interestingly though, of the 4,478 properties in Chelmer Village over 1,696 of them are detached (or 38%), compared to 30% average in Chelmsford (Something that wouldn’t happen today with the price of land.). There are also 1,995 semis and town houses, the remainder being made up of flats and apartments.
Anyway, he is eager to purchase his first Buy to Let property and has noticed our previous articles, so was interested in getting to know the industry a little better. As he has lived in the Chelmer Village area for over 8 years and he felt comfortable investing around there as he knew it well, we started to discuss the property market in this area. With my local knowledge I was able to tell him that there are plenty of 3 bed semis here, the larger ones can be bought for around £250,000 and a good one rents for around £1000 per month, a healthy yield of 4.8% per year, especially since 1999, semis have on average risen by around 132% in value since 1999, which when you consider the Chelmsford average property value increase is only 105% over the same time frame, it is good news all round!
So with a reasonable yield and excellent capital growth, semis in Chelmer Village, especially 3 beds, could make a decent future investment. Whether you are a landlord of ours or not, or someone thinking of investing in the rental market for the first time, drop by our offices. in Duke Street for advice on where the bargains are in Chelmsford.
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