The subject of a lack of Chelmsford property bargains over the last couple of years has always been near the top of most local landlord’s thoughts. I have built up an extensive database of every property sale in Chelmsford since the late 1990 ’s, so are able to give an objective and unbiased opinion on what (and what does not) make a good property deal /investment. Knowing what is and what has happened to the property market in the different areas of Chelmsford (the differences of the property markets in Chelmer, Springfield and Galleywood for example) or comparing the town against say Witham or Ipswich, enables me to spot any trends /opportunities for buy to let landlords.
Here are some bargains that I spotted at the time and made a note of. It’s obvious other people thought the same as some have now resold a few years later. A lovely terrace house on Marconi Road in Chelmsford City Centre sold in the Spring of 2012 for £173,000. Admittedly it needed a some TLC and a lick of paint, but what a bargain, because they sold it again this spring just gone for £230,000 …. a 32.9% increase in just three years. (Average property values in Chelmsford in the same three years only rose by 17% !). Or there was also a 4 bed detached house on Pickwick Avenue in Chelmsford, which sold in the winter of 2013 for £272,950, not in bad condition, which sold in the spring of this year for £350,000! An increase of 28% in just 2 years, where average property values across Chelmsford increased by only 12%. It just shows if you buy right in the first place, you can still benefit from some great capital growth.
Whether you are a landlord of ours or not or someone thinking of investing in rental market for the first time, drop by our offices for any advice and opinion on where the property deals are in Chelmsford. Please come and see me at our office in Dukes Street in Chelmsford.
