Chelmsford’s location has long been lauded by
home buyers and renters alike.
After all, with London a mere 30 minutes away by
train but sales and renting prices distinctly lower than the capital, there is
big demand for all kinds of property from both buyers and renters.
And if you’re not taking advantage of those
traits as a property investor, you could be missing out.
Property to buy in Chelmsford
The range of property for sale in Chelmsford, from
modern new-build apartments in the city centre to traditional period family
homes makes it one of the best places to invest in property in Essex.
Here are 9 reasons why you should consider
investing in property in Chelmsford…
1. Proximity of Chelmsford to
London
Just 40 miles northeast of the capital,
Chelmsford is perfectly placed for commuters.
The A12 into east London and 30 minute train
services into Liverpool Street from Chelmsford station have seen many Londoners
relocate to Essex in search of better value properties to buy and rent.
In particular, Chelmsford’s raft of modern city
centre flats are ideally situated for rail commuters and rental demand is high
for these properties.
2. Great schools
Chelmsford has so many great schools, you’d be
hard-pressed to count them on the fingers of both of your hands and those of
your children.
As well as two ‘Outstanding’ rated grammar schools
in King Edward VI and Chelmsford County High, the city’s primary schools also
rank highly.
Four – Oaklands Infants, The Tyrrells School,
Perryfields Junior and Newlands Spring – are rated ‘Outstanding’.
On top of that, most of Chelmsford’s main comprehensives
are rated ‘Good’ by Ofsted.
So investors looking to secure family renters
would do well to check out properties for sale in areas like Chelmer Village
and Beaulieu Park, as well as those popular period homes closer to town.
3. Solid capital growth
The reasons Chelmsford appeals to property
investors are the same reasons why the city’s property market has enjoyed
sustained growth over the past decade.
Since April 2010, Chelmsford’s average sale
price has risen by almost 54%, meaning investors in for the long term stand to
enjoy considerable capital growth.
4. Value on the market
While Chelmsford’s property price growth over
the past 10 years has been considerable, the current climate has seen that
growth slow, meaning potentially solid investment opportunities are out there.
Chelmsford’s growth over the past 12 months sits
at a marginal 0.3%, while transactions are also down by 10.1% while sellers
adopt a ‘wait and see’ approach to the UK’s ongoing Brexit negotiations.
But with the city’s location, development and
popularity all remaining attractive to property hunters, Martin & Co
expects growth to be slowly jolted back into action once there is clarity on
the UK’s future in or out of the European Union.
So, now is a good time for investors to pounce
and take advantage of those steadying prices.
5. Rental prices
We’ve already established Chelmsford is a
hotspot for long term capital growth, but with rents currently rising faster
then property prices, there is potential for investors to secure some more
attractive rental yields.
While Chelmsford will never match the might of
the north of England when it comes to yields, its solid performance coupled
with strong capital growth potential make it something of a no-brainer for
savvy investors.
6. Student population
Anglia Ruskin University is home to around 6,000
students in Chelmsford, including 500 who live in the city’s student village.
Many of the university’s students, though, opt
to rent privately in house shares, so a landlord looking for a House in
Multiple Occupation opportunities should consider students from ARU.
7. A hub for businesses
While Chelmsford’s commuter population is
attractive to property investors, so too is the city’s status as an employment
hub in its own right.
In the public sector, Chelmsford is the base of
Essex Police, Essex County Council and Chelmsford City Council, all of which
employ vast numbers in the city.
Privately, meanwhile, the city is the UK base
for companies like M&G Group, e2v Technologies and ebm-papst UK.
And with the Chelmsford Business Park housing
the likes of the Anderson Group and Global Marine Systems, not to mention the
city’s retail and shopping parks which employ thousands of people.
Chelmsford’s unemployment rate is also low at 3.8%
in September 2018.
8. Crossrail is coming
While Chelmsford doesn’t sit directly on the
Elizabeth Line, Crossrail’s eastern terminus Shenfield is only 10 minutes away
from Chelmsford station
And once Crossrail opens fully in December 2019,
trains from Shenfield to Tottenham Court Road will take just 47 minutes – with
no changes required.
Shenfield has experienced huge price growth over
the past two years thanks to Crossrail’s services moving ever closer to launch
and Chelmsford’s proximity puts the city in a great position to welcome some of
that growth.
9. New developments
Since achieving city status in 2012, Chelmsford
has already experienced huge amounts of development and regeneration, all of
which has contributed to its appeal as a buy-to-let hotspot.
The Bond Street development, around 20 new
restaurants and a host of other shops and retail outlets have arrived, adding
to Chelmsford’s appeal to investors.
And it’s not just retail where huge strides have
been made.
The city council is planning 9,000 new homes in
the city by 2036 and a raft of development is already underway – meaning
superb opportunities for investors.
The former Dukes nightclub site in the city will
be turned into more than 100 apartments, while the former Royal Mail site on
Victoria Road is also set to become 200 new flats.
