Last week, a landlord who lives in Little Baddow, came in to our office to discuss the rising property values in the Chelmsford area. He owns a varied portfolio of rental properties, primarily in Chelmsford and Braintree with one in Maldon, so it is interesting to compare the increase in property values around the area.
Over the last 12 months in Chelmsford average property value’s have risen from £278,300 to £289,600 , a rise of just over £11,300, or £217 per week. When I looked at some of the surrounding areas, Braintree has had a slightly average increase in property values, at around £211 per week, whilst Maldon has a lower rise of an average increase of around £158 per week. It is, nonetheless, a rise in all the town’s average property values which suggests the market is recovering steadily in our area, but especially Chelmsford– good news for home owners and landlords alike.
When considering this landlord’s buy to let portfolio, yields can be in the order of an average 4% to 5% per year, depending where you buy, so combine that with steady rental growth, excellent increases in capital values of the properties themselves and it could be a good time to invest in the property market in Chelmsford as property values start to rise.
If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in the rental market, please come and see me at our office Duke Street, opposite County Hall in Chelmsford.
