With news that Brexit may not have been a total disaster for the property market, as well as rumours that Stamp Duty may be temporarily scrapped to help revive the housing market, now is the perfect time to start planning your next property investment in Essex. Whether you are looking to purchase a newbuild flat off-plan, purchase an older property for renovation, or buy a property to let it out to families or students, there is something for everybody in Essex.
Where to Invest?
Chelmsford continues to be a solid performer on the Essex property market, with prices making steady increases. Since being granted City Status, Chelmsford has seen a period of sustained development and growth. For new build properties, look to Beaulieu Park, where you will find large family homes on the northern outskirts of the city. A new railway station is likely, which will result in a huge hike in house prices in the area.
To the south of Chelmsford is the prestigious Great Baddow. Once a village, now a leafy suburb of Chelmsford, Great Baddow boasts several excellent schools as well as all the main amenities you’d expect to find in a small town. In Great Baddow you can find a 6 bedroom family house, with its own gym and large office space (perfect for professionals who can also work from home), for just £550,000.
In the town centre, there are several exciting developments. The St. Johns development, which is built on the old hospital, still has some larger plots available, and the more affordable flats are just coming on the market now.
Cross Rail is likely to have a huge impact on prices in Essex. we have already discussed it here: Top 3 Up-and-Coming Property Hotspots in Essex. Prices in Brentwood have already seen the benefit of this.
All of Essex’s commuter towns will continue to see solid growth. As property prices in London continue to become less affordable, City workers will look for homes within an easy commute of Liverpool Street and Fenchurch Street stations. Property hotspots are Chelmsford, Ingatestone, Shenfield, Braintree and Colchester. Smaller towns area also worth looking at, such as Kelvedon and Manningtree. Southend continues to be a more affordable part of Essex that is also in high demand – prices look set to rise as Cross Rail pushes prices out of reach for many people in the Brentwood and Hornchurch areas. Shenfield was rated as one of the best investment towns outside of London by The Telegraph.
Our top tips: Look at Great Baddow – just outside Chelmsford, it is good value for money and very close to the fast commuter station at Chelmsford.