Essex set to be one of the most popular Home Counties in 2014
By Denise Allen - 06 December 2013
• Essex has among the highest investment levels of any Home County, with £billions being invested in projects, such as London Gateway and Crossrail
• Essex property represents excellent value for money – benefitting from being less than an hour’s commute from London and close to the UK’s tops schools
• Leading estate agent Beresfords reports record new buyer registrations, up 30% annually in November
• The county has among the highest buy-to-let property yields
Essex has flourished in 2013, hitting the headlines with multi-million investment projects and a wave of regeneration across the commuter hubs of Chelmsford, Brentwood and Colchester.
Beresfords predicts that in 2014 Essex is set to become the one of the most popular of the Home Counties surrounding London.
Paul Beresford, Managing Director at Beresfords, comments: “Property in Essex is excellent value for money when you compare it to other Home Counties. We have a number of commuter stations which have regular fast trains to London, several sought-after schools which consistently come top of the UK’s league tables and a diverse range of properties to suit all budgets.
“At Beresfords we have seen buyer registrations increase by almost a third on last year, including a number of buyers moving out of London and other Homes Counties in search of more property for their money and a better quality of life.“
In 2014 John Lewis is set to open a flagship department store and Waitrose supermarket in Chelmsford, which could boost house prices considerably. Brentwood also has the green light for new infrastructure projects, including shops, restaurants, a new cinema and transport improvements.
The sheer number and scale of the investment projects underway is also attracting buy-to-let investors. Beresfords has seen the number of investors registering increase by 62% annually, attracted by the high yields, up to 8%, and the diverse range of property within an hour’s commuting distance of the Capital.
Paul Beresford concludes: “This new investment is accentuating the current migration trend from London and other Home Counties and, as a result, demand for property to buy and rent will increase further into 2014. The property market has been a hive of activity towards the later part of the year, with the number of sales rising by 32% annually. To satisfy this demand, developers are keen to have a presence in Essex and have already started work on a host of new housing projects for next year.”
For further information on the property market in Essex contact your local branch.