Our latest edition of the Chelmsford Property Market update for November 2016 is out now.
You would be forgiven for thinking that Nobel Prize winner Bob Dylan was talking about the UK property market when he sang, “the times, they are a changin'”. As agents in Chelmsford, we have seen it all in the property market. But one overarching fact is the rise of local property prices, which have seen a significant increase of 46% in the last decade. Figures show that moving up the property ladder, or getting on it in the first place, is not that easy. However, there are certain choices you can take to make the process much smoother, particularly if you listen to advice from a good agent. The young person’s dream of owning their own property is still very much within reach. Compromise is key; sometimes it is a good idea to take stock and really think about what it is that you want from a property. Chelmsford is popular with homeowners and tenants, which indicates that location is still the number one factor for people moving home. Yet in our experience, some people are willing to look further afield to find a cheaper, more suitable property.
If you are already on the property ladder, moving up it is not as arduous as many initially think. Increasing house prices can actually benefit homeowners like you, assuming that you have paid off a fair amount of your mortgage. Average property prices in Chelmsford are now worth £317,200, which means if you bought the
property 10 years ago, it would have increased by an impressive £99,200. Some of you will be tenants who are not yet on the property ladder, but don’t worry as there is still hope. Mortgage lenders have started to loosen their purse strings, with many of them offering up to 95% mortgages. The government also offer several schemes making it easier for first-time buyers to purchase a home, including Right to Buy, shared ownership and the Help To Buy ISA.
Please download the full report by clicking cpu-nov-16
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