Located just 32 miles from Charing Cross, many people have discovered that Chelmsford is a great location to live in while working in the heart of London, but there are many other excellent reasons to set up home in this area. With a population of around 170,000 Chelmsford has plenty to offer and the property market is certainly thriving.
Looking at the change in property prices over the past year indicates that things are on the up in Chelmsford. The overall average property price has risen by 8%, standing at a level of £265,606 in November of 2014 and rising to £286,119 by November of 2015. This provides comfort for people who already own properties in the area but for people who are looking to invest in Chelmsford, there is a need to carry out further research. On the one hand, it is positive that property prices are rising but it is essential to determine whether the prices have peaked. There is a suggestion that property prices in Chelmsford are likely to maintain their upwards climb in 2016 and beyond, so there is still going to be an incentive for property buyers looking to improve their investment.
Property prices are constantly changing in Chelmsford and whilst we are reporting on the changes in 2015 it is worth noting that for some types of property these prices have already increased in 2016. Due to this most recent increase, we would always recommend that you look to get a more current valuation of your property.
There are many factors in the rise of Chelmsford property prices
Of course, the pleasant climate, range of facilities and supply of good schools in the area offer benefits beyond the financial aspect, and this is why Chelmsford is an area that is experiencing an upwards trajectory. There is also a project for a second railway station to be delivered to the city in the foreseeable future, providing further transport options. The city is also a 30 minute drive from Stanstead Airport, providing quick transportation around the UK and Europe for local residents.
While the overall average price for property in Chelmsford has risen in the past year, it can be helpful to look at the changes in average price for different types of property.
With the development of the Cross Rail being only 20 minutes away from Chelmsford this will also enhance the area making it even more commutable for those who need to get into the City.
How much is your home worth today?
If you are looking to get an up to date valuation on your home for 2016 please get in touch with a member of our experienced team by calling 01245 500599.
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