A Great 1 bed apartment in Chelmsford City centre

Good morning everyone, I hope you are enjoying your Bank Holiday weekend. I thought you might be interested in the next property that I have picked out for you, so gave a little look and see what you think. 

http://www.rightmove.co.uk/property-for-sale/property-59689583.html

It's a 1 bedroom apartment in Durrant Court in Chelmsford, next to Anglia Ruskin university. It's just come to the market with IPS, with an asking price of £185,000. The building itself used to be the Hoffmans factory which has been converted into flats. Because of this the proportions are quite generous and there are some lovely features. As well as being quite modern, which is appealing to potential tenants, there is also allocated parking, which is quite important to people. 

From a rental point of view, you are going to be looking at a monthly rent of circa £800 pcm. So if we get our little yield calculator out, you are looking at a potential annual yield of 5.1%. This figure is before taking into account service charges, so make sure you get that information from the agent so you can factor this into your calculations. 

If you would like any more information of just done general advice on buying a property to let, give me a call on 01245 330500.

Lovely 3 bed house in Chelmsford, prime for buy to let!

Good morning, please see below the details of todays buy to let deal of the day. I have picked a 3 bedroom house, that has just come to the market with Hamilton Piers, with an asking price of £269,995. The property looks to be in really good condition and very well presented, with the kitchen and bathroom looking to have been updated at some point recently. 
http://www.rightmove.co.uk/property-for-sale/property-54342082.html

From a rental point of view, properties of this type would be looking at achieveing in the region of £1100 pcm, which could potentially generate you an annual yield of 4.8%! not too bad, especially when you consider that this is a freehold house and with no additional service charges and such like. 

If you have any questions about the property market, please do not hesitate to contact me to discuss. You can always pop in top see us as well if you are out and about, our office is on Duke Street

Rents in Chelmsford rise by 3.0% in the last year

I was reading the Sunday Papers, as is my want and, when reading the financial pages, it was announced UK inflation had increased to its highest level in a year. Inflation, as calculated by the Government’s Consumer Prices Index, rose by 0.3% over the last 12 months.  The report said it had risen to the those ‘heady’ levels by smaller falls in supermarket and petrol prices than a year ago. If you recall, in early 2015, we had deflation where prices were dropping!

So what does this mean for the Chelmsford property market ... especially the tenants?

Back in November, the Office of National Statistics stated average wages only rose by 1.8% year on year, so when adjusted for inflation, Chelmsford people are 1.5% better off in ‘real’ terms.   Great news for homeowners, as their mortgage rates are at their lowest ever levels and their spending power is increasing, but the news is not so good for tenants.

The average rent that Chelmsford tenants have to pay for their Private Rental Properties in Chelmsford (i.e. not housing association or council tenants) rose by 3.0% throughout 2015, eating into most of the growth.  2015 wasn’t a one off either.  In 2014, rents in Chelmsford rose by 1.9% (where salaries only rose by only 0.2%) However, it’s not all bad news for Chelmsford tenants, because in 2013 rents rose by 0.9%, (but salaries rose by 2.2%).

… and it must be noted that the private rents Chelmsford tenants have had to pay for Chelmsford property since 2005 are only 18.3% higher, not even keeping up with inflation, which over the same time frame, rose at 27.8% (although salaries were only 22.3% higher over the same time period)

More and more, talking to 20 and 30 somethings who rent – it’s a choice.  Gone are the days where owning your own property was a guaranteed path to wealth, affluence and prosperity.    I know keep mentioning Europe, but some of the highest levels of home ownership are in Romania at 96.1%, Hungary at 88.2% and Latvia at 80.9% (none of them European economic dynamos) and even West European countries like Spain at 78.8% and Greece at 74% (and we know both of those countries are on their knees, riddled with national debt and massive youth unemployment).

At the other end of the scale, whilst we in the UK stand at 64.8% homeownership, in Europe’s powerhouses, only 52.5% of Germans own a home and only 44% of Swiss people are homeowners.  Looks like eating chocolate, sauerkraut, renting and good economic performance go hand in hand.  Yet, joking aside, home ownership has not always been the rule in the UK.   In 1918, only 23% of people were homeowners, with no council housing, meaning in fact, 77% were tenants.

Tenants have choice, flexibility to move, they don’t have massive bills when the boiler blows up, it’s a choice.  Chelmsford rents are growing, but not as much as incomes. To buy or not to buy is an enormously difficult decision.   For while buying a Chelmsford home is a dream for the majority of the 20 and 30 something’s of Chelmsford have, it might not leave them better off in the long run and it isn’t necessarily the best option for everyone.  That is why, demand for renting is only going in one direction – upwards. 

For more articles about the Chelmsford property market, visit www.chelmsfordpropertyblog.co.uk 

Great property in Chelmsford for buy to let...

Good morning, I've a got a great property for you to get your teeth into today, have a little look through the details, it's on Pearce Manor in Chelmsford. I've given you some idea on the figures in my little video...

http://www.rightmove.co.uk/property-for-sale/property-41953440.html

1 bed apartment potentially great for buy to let in Chelmsford...

Good Morning, I hope everyone had a lovely weekend. I've got another potentially great buy to let property lined up for you, in Great Baddow, I've talked about the figures on the video, have a watch and see what you think...

http://www.rightmove.co.uk/property-for-sale/property-41919267.html

1 bed starter home in Chelmsford for buy to let...

Good afternoon, please find below the details of todays deal of the day. It's a little starter home in Chelmer Village, see what you think...

http://www.rightmove.co.uk/property-for-sale/property-59507522.html

Chelmsford Eye Candy property of the week...

 Hi everyone, check out todays' Eye Candy' property in Chelmsford, have a little look and see what you think...

http://www.rightmove.co.uk/new-homes-for-sale/property-41925123.html

Chelmsford Property Values rise by 0.3% month on month

I do like to have a coffee at Queenies Coffee Shop in the High Chelmer Shopping Centre in Chelmsford. Whilst in there, a suited gentleman approached me and asked if I was the person who wrote the newsletters about the Chelmsford property market. We ended up having an interesting chat about the local property market, as he was concerned his daughter would never be able to buy her own property, a place in Chelmsford she herself can call home.

My latest analysis, using the Land Registry and Office of National Statistics, shows that overall, month on month, Chelmsford property values increased by 0.3%. The year on year figures showed the value of residential property in Chelmsford has increased by 5.8% in the year to the end February 2016, taking the average value of a property in the council area to £157,400.

It gets even more interesting when we look at the last few months’ figures and see the patterns that seem to be emerging.

·         January 2016               - a rise of 1.1%

·         December 2015          - a rise of 0.2%

·         November 2015          - a rise of 0.5%

We have talked in many recent articles about the lack of properties being built in Chelmsford over the last 30 years. This lack of new building has been the biggest factor that has contributed to Chelmsford property values still being 168.75% higher than in 1995. At the risk of repeating myself, until the Government addresses this issue, and allows more properties to be built, things will continue to get worse as the UK population grows at just under 500,000 people a year (which is a combination of around 226,000 people because of higher birth rates/people living longer and 259,000 net migration) whilst the country is only building 152,400 properties a year – no wonder demand is outstripping supply.

Another reason intensifying the current level of property values in Chelmsford, is the fact that people aren’t moving home as much as they used to, meaning fewer properties are coming onto the market for sale, so in consequence, there is a lack of choice of property to buy, meaning people thinking of moving are discouraged from putting their property on the market ... thus perpetuating the problem, as the scarcity of possible properties to buy in order to move also deters people from offering their home for sale. This unevenness between demand from would-be purchasers and the number of properties coming on to the market for sale is causing pressures in Chelmsford (and the rest of the UK).

So what of the future of the Chelmsford property market and this man’s daughter? I firmly believe the property market in Chelmsford and the country as a whole is changing its attitude about homeownership. Back in the 1960’s, 70’s, 80’s and 90’s, getting on the property ladder was everything. Since the late 1990’s, we as a country (in particular, the young) have slowly started to change our attitude to homeownership. We are moving to a more European model, where people choose to rent in their 20’s and 30’s (meaning they can move freely and not be tied to a property), then inherit money in their 50’s when their property owning parents pass away, allowing them to buy property themselves ... just like they do in Germany and other sophisticated and mature European counties, meaning his daughter will end up owning property, just later in life than we did. So, whatever the vote on the 23rd of June, if you think about it, we might be more European than we think!

If you want to read more articles on the Chelmsford property market, whether you are Chelmsford landlord, Chelmsford homeowner, first time landlord or a first time buyer – then visit the Chelmsford Property Market Blog… www.chelmsfordpropertyblog.co.uk

Lovely 2 bedroom house in Chelmsford for potential buy to let...

Welcome to the middle of another week readers, I've picked out another property for you to have a look at which could be a cracking little buy to let property, it is in Chancellor Park, see what you think...

http://www.rightmove.co.uk/property-for-sale/property-41291280.html

Nice 2 bed apartment in Chelmsford with great buy to let potential.

Good morning, I've picked out a nice little 2 bed apartment in Chelmsford on a develoment known as 'The Village'. Have a look at the video to see what you think!

http://www.rightmove.co.uk/property-for-sale/property-41833137.html

Chelmsford "Eye Candy Property of the Week"

"Eye Candy Property Of The Week" on Rightmove this week I have chosen a property in Chelmsford.
                                     

http://www.rightmove.co.uk/property-for-sale/property-58279223.html

Have a good weekend and look forward to next week's "Eye Candy Property Of The Week"

Lovely 2 bed house In Great Baddow, Chelmsford for Buy to Let

Have a little look at this lovely house, would certainly appeal to professional tenants. I've given some info about the numbers etc on the video, have a click and see what you think...

http://www.rightmove.co.uk/property-for-sale/property-53902255.html

27% of Chelmsford people Rent - Is that Healthy?

Renting used to be a dirty word in the 60’s and 70’s. You either lived in a ‘Rigsby Rising Damp’ style bedsit with wood chip on the wall and a coin operated electric meter (that buzzed in the night) or you lived in a council house. In the latter part of the 20^th Century, the British were persuaded that rent payments were ‘wasted money’. However, owning often makes less financial sense than renting and as the rate of homeownership is starting to drop substantially, as we roll the clock forward to today, there is no stigma at all to renting .. everyone is doing it. In fact, of the 109,169 residents of Chelmsford, 29,157 of you rent your house from either the local authority/social provider (ie council house or housing association) or private landlords – meaning 26.7% of Chelmsford people are tenants.

The idea of homeownership is deeply embedded in the British soul, in fact 78,538 Chelmsford people live in an owner occupied property (or 71.94%). Housing is at the heart of Government policy, as George Osborne has promised 200,000 new properties a year so first time buyers can buy their first home whilst recently changing the tax laws for buy to let landlords. To get votes, Thatcher (and everyone since) ran election campaigns promising everybody their own home, and as a country, we seem to equate homeownership the goal of British life.

So as more and more people are renting nowadays, are we turning to a more European way of living? Well, I believe, as a country, we are. In fact, homeownership could be affecting your health! The UK, according to Bloomberg, is only the 21^st most healthy country in the world. Germany is at No.10 and Switzerland at No.4 and homeownership is at 52.5% and 44% respectively in those countries (in the UK it is 64.8%).

In the Chelmsford City Council area, 76.3% of homeowners who own their house outright said they were in ‘very good’ or ‘good’ health whilst, at the other end of the scale, 4.98% said their health was ‘bad’ or ‘very bad’. Looking at renting, the census splits tenants into two types – 71.95% of Chelmsford local authority/social tenants said they were in ‘very good’ or ‘good’ health and 8.92% were in ‘bad’ or ‘very bad’ health …

… whilst ‘private rented tenants’ in Chelmsford, were the healthiest, as 89.07% of them described themselves in ‘very good’ or ‘good’ health and only 2.72% were in ‘bad’ or ‘very bad’ health

I am not suggesting that low homeownership rates in Switzerland and Germany are directly linked to health, nor, do I expect Brits to all go to Berlin, Interlaken or Düsseldorf and realise how happy people are when they don't need to worry about all the stresses which accompany homeownership. The numbers for Chelmsford do go some way to back up the argument (and they are the same across the whole of the UK). Nonetheless I do think that substantially all of the upside to homeownership in recent years has been a function of monumental rising house prices. Now that's come to an end, it's hard to see why anybody would want to buy?

Renting is here to stay in Chelmsford and it’s growing incrementally each year. Even with the new tax rules for landlords, buy to let is still a viable investment option for most people in the City. There has never been a better time to buy buy to let property in Chelmsford, but buy wisely. Gone are the days that you would make profit on anything with four walls and a roof. Take advice, take opinion, do your homework. One place to do more homework, to read more articles on the Chelmsford Property market like this, is the Chelmsford Property Blog  www.chelmsfordpropertyblog.co.uk

Nuclear Rush for the Kids of Malapascua

Just 4 days to go until our team and family are getting muddy for charity. Thank you for your all your support so far. We are over 70% of our target and it would be nice to reach our target. The link below will take you to our 'Go Fund Me' page
I know how difficult it is with lots of demands on financial resources, please dig deep to help these poor children. Thank you.
https://www.gofundme.com/macchelmsford

Studio apartment in Chelmer Village, Chelmsford witha cracking Yield...

Good morning property hunters, I've picked out a little studio flat in Chelmer Village, Chelmsford for todays deal of the day, have a little watch and see what you think...

http://www.rightmove.co.uk/property-for-sale/property-41673798.html

Chelmsford City centre Buy TO Let deal...

Good morning, I hope everyone enjoyed the glorious sunshine we had at the weekend!

I've picvked a lovely 1 bed apartment in the ity centre for today's deal of the day, have a little watch of the video to see what you think...

http://www.rightmove.co.uk/property-for-sale/property-41641275.html

Great buy to let potential with this flat in Chelmsford....

 Well, here we are again, another Friday before the weekend, it all flies by so quickly! Anyway, I'm finishing the week off with a property that you need to look forward into the future with, have a click on ghte video and you'll see what I mean.

http://www.rightmove.co.uk/property-for-sale/property-59199074.html

Chelmsford " Eye Candy Property Of The Week"

"Eye Candy Property Of The Week" on Rightmove this week I have chosen a property in Writtle.
                                     

       

http://www.rightmove.co.uk/property-for-sale/property-59285597.html

Have a good weekend and look forward to next week's "Eye Candy Property Of The Week"

What would Brexit mean to the 32,300 Chelmsford Property owners?

I don’t know about you, but I find if you read the Daily Mail, there are only three topics that make the blood boil of ‘Middle England’. Bureaucracy from Brussels, House Prices and the late Princess of Wales. Ignoring the late Princess if I can for this article, but if we as a country were to unshackle ourselves from chains of Brussels (the first topic), could we inadvertently effect the second topic and make UK house values drop?

If you read all the newspapers, the Brexit debate seems to be focused solely on central London. Many commentators have said Brexit would mean central London would have a lower standing in the world, meaning less people would be employed in Central London, with the implication of lower wages, fewer jobs etc., in Central London ... but we are in Chelmsford, not Marylebone, Mayfair or any part of Zone 1 London.

Now on the run up to the vote on the 23^rd of June, I predict the ‘in’ camp will start to scare homeowners with forecasts of negative equity, and the ‘out’ camp will appeal the 20 somethings, who have been priced out of the property market with the prospect of a new era of inexpensive housing, should the fears of central London estate agents and developers, who believe the bottom will fall out of the market if we do leave, become real. The only reason the Mayfair’s, Knightsbridge’s, and Kensington’s of central London are attractive to foreign buyers are political and economic steadiness, an open and honest legal system and a lively cultural life. None of that is threatened by Brexit.

... But again, we are in Chelmsford and central London is 43 miles away. We are hometown to the mighty Chelmsford City FC, birthplace of Harry Judd and voted the best place to live in the UK by ‘Location, Location, Location’! And whilst the central London property market exploded after 2009, that explosion really and honestly didn’t affect the Chelmsford property market. So, putting central London aside, what would an ‘in’ or ‘out’ vote really mean for the 32,300 property owners of Chelmsford?

Initially, over the coming months, on the run up to referendum, I believe it will be like the run up to last year’s General Election. With the short-term uncertainty in the country, quite often, big decisions are put on ice and people are less likely to make big money purchases i.e. buy a property. However, in the four months up to last year’s Election, property values in Chelmsford increased by 2.51%, not bad for a country that thought it would get a hung parliament! So that argument doesn’t hold much weight with me.

Post vote, should the UK opt to leave Brussels, there would be a much more noteworthy impact. I believe that a vote to stay in the EU would see the Chelmsford property market return to a status quo very quickly, but the contrasting result could lead to some changes. The principal menace to the Chelmsford (and UK) housing market could be variation (in an upwards direction) in interest rates as a result of a Brexit, which could theoretically see the cost of mortgages grow swiftly, pricing many out of the market … but then two thirds of landlords buy without a mortgage, so that won’t affect them. Also, according to the Bank of England, 80.33% of all new mortgages taken out in 2015 were fixed rate. Looking at all mortgages as a whole, according to the Bank of England, 44% of all UK mortgagees have a fixed rate mortgage, but 56% don’t, so if you aren’t on a fixed rate ... talk to your mortgage broker now, because they can only go in one direction!

So in reality, if I really knew what will happen, I wouldn’t be a letting / estate agent in Chelmsford, but a City Whiz Kid in London earning millions. However, I suspect whatever decision the electorate of Chelmsford and the country as a whole makes, over the long term it won’t have a major effect on the Chelmsford property market. We have seen off ‘the end of the world’ credit crunch of 2008/9 and subsequent property crash, the 1988 Nigel Lawson induced post dual-MIRAS property crash, the 1979 Winter of Discontent property crash, the 1974 oil crisis that stimulated another property crash ... hell, we can even go back nearly a century with the 1926 post General Strike slump in property prices...

Today, property prices are 256.85% higher than 21 years ago in Chelmsford and are 10% higher than 12 months ago. So, make your own decision on 23^rd of June 2016 safe in knowledge that whatever the result, there might be some short term volatility in the Chelmsford property market, but in the long term (and property investment is a long term strategy) there aren’t enough houses in Chelmsford to live in either to buy or rent … and until the Government allow more properties to be built – the Chelmsford property market, will be just fine ... even if it has a little blip in the summer, there could be some property bargains on the run up to Christmas to be had!

For more advice and opinion on the Chelmsford property market, even where those buy to let bargains could be found now ... visit the Chelmsford Property Blog www.chelmsfordpropertyblog.co.uk

Chelmsford City centre apartment with cracking Buy to Let potential...

Morning all, working hard this week to make sure I pick the 'cream of the crop' of properties that could be great buy to let deals. The next one I have picked is a City centre flat in Chelmsford, locations great, flat's pretty good, check the video out and see what you think of the figures.

http://www.rightmove.co.uk/property-for-sale/property-41606049.html

Modern 2 bed apartment in Chelmsford...

Good morning everyone, I hope you all had a lovely Bank Holiday weekend. Back to the grind this morning though and I'm back to it, making sure I've got a lovely little Buy to Let deal for you to get your teeth into. The one I've picked today is a 2 bed apartment in Great Baddow. I've talked about it in a bit more detail on the video, have a watch and see what you think...

http://www.rightmove.co.uk/property-for-sale/property-53974651.html