Market Insights, Witham

Witham features a population density of 4.3 residents per hectare, surpassing the regional average. In 2021, the community supported a population of 51,297 residents, marking a commendable 10.6% increase over the decade from 2011 to 2021.

Demographically, Witham has 12.3% of its population falling within the 35 to 44 age range, below the regional average. Housing dynamics show 28% of households comprising single occupants, while 37.8% accommodate families with children.

Witham stands out as a town with a balanced demographic composition. With excellent rail and road transport links Witham is an excellent choice for families and commuters alike.

Over the last 12 months the average sales price in Witham was £330,687. The total value of sales was £189,991,283. 

20% of sales in the past 12 months were flats, achieving an average sales price of £172,845. Houses achieved an average price of £389,073. 

The highest value recorded by the Land Registry over the past 12 months was £472,950 for a flat and £2,699,950 for a house. 

Over the last 12 months, the average rent achieved for homes let in Witham was £1,115 per month. This is a +6% change on the previous 12 month period.

44% of homes let in the past 12 months were flats, achieving an average rental value of £923 per month. Houses achieved an average rent of £1,280 per month.

19% of renters are aged between 25 and 29.

The town is well located just off junction 22 of the A12 whilst also offering direct connections by rail into London Liverpool St within 45 minutes. From an investors perspective Witham continues develop as an area and despite healthy capital growth over the last 2 decades properties can still be acquired locally at competitive levels compared other surrounding areas. Rental demand remains strong due to its mixed property stock, effective road and rail links and collectively it is for these reasons that buy to let purchases make up a good proportion of all annual transactions undertaken across the area.