A brilliant indicator, which is commonly overlooked, of an area’s property market is the amount of times properties change hands.
There are 69,667 properties in Chelmsford and 16,528 have changed hands in the last 7 years. Our neighbours in Witham may only have 12,875 properties, but of these 3,017 households moved during the last 7 years. This works out as 23.4% of the town’s property market changing hands, which is not too dissimilar to our 23.7%. Having looked at our other neighbouring town Braintree, which has seen 4,537 of 21,203 households change hands, this works out as slightly less with only 21% of properties changing hands.
Whilst the percentages are all very similar, the numbers speak volumes with over 3 times as many people having moved in the Chelmsford area compared to Braintree, and more than 5 times as many people than Witham.
This shows you must cover every detail from the property to the area’s market before making a decision to buy, be it for yourself or as a buy to let investment.
If you would like to talk to us about buy to let, please feel free to visit our office on Duke Street.
