Colchester properties for sale

Colchester Properties For Sale – Unexpected 9% Autumn Boost

On a cold and foggy January morning there’s nothing better than a cooked breakfast so I arranged to meet up with a long standing client, and friend, at the Jubilee Cafe. We got chatting about the number of Colchester properties for sale. I had just completed my research for this blog post so our conversation was helpful and I’ve incorporated the relevant bits of our conversation into this article.

He asked me what my thoughts were about the second half of the year and asked if there were any great Colchester properties for sale that he’d missed and what type of buy to let properties he should be looking at. I replied it looked like the post Brexit vote uncertainty was behind us (for now) and that I’d seen an increase in supply, especially in the lower to middle end of the market. This suggests both first time buyers and buy to let landlords have been busy over the last few months and that the market is beginning to bounce back. Let’s take a look at the numbers…

In November 2016, according to the three main property portals (Rightmove, Zoopla and OnTheMarket) there were a total of 832 Colchester properties for sale within three miles of Colchester town centre. Compared with November 2015 there were 760 Colchester properties for sale so that’s a 9% increase.

I’ve broken the stats down further (bearing in mind building plots and mixed commercial/part residential means the stats won’t exactly match the headline) so we can see exactly what’s been happening.

Number of bedrooms:Properties on market Nov 2015Properties on market Nov 2016Percentage change
5+ Bedrooms4965+33%
4 Bedrooms156162+4%
3 Bedrooms210335+60%
2 Bedrooms253189-25%
1 Bedroom8278-5%

Looking at the properties types was even more interesting

Type of PropertyProperties on market Nov 2015Properties on market Nov 2016Percentage change
Detached203261+29%
Semi157232+48%
Terraced1081080%
Flat247182-26%

This increase in homeowners wanting to sell their property suggests there is plenty of confidence in the Colchester property market. More properties on the market means more competition, and usually downward pressure on prices, which usually results in more realistic asking prices for property in the first place.

As you can see, from the table above, there are more semi-detached properties for sale in Colchester than other property types. This makes semi-detached houses a great choice for first time buyers and buy to let landlords right now. The combination of more Colchester properties for sale and realistic asking prices, assuming the supply continues into Spring 2017, means it’s a good time for first time buyers and buy to let landlords to pick up a bargain.

If you would like an informal chat about any aspect of the Colchester property market give me a ring on 01206 862288 or email grahamwood@hometorent.co.uk. I’m also available to offer a free opinion on Colchester properties for sale. Send me the Rightmove or Zoopla links you’re interested in and I’ll get back to you, often within 24 hours.

3 thoughts on “Colchester Properties For Sale – Unexpected 9% Autumn Boost

  1. Hi Graham, how is “confidence in the market” related to the number of properties up for sale? Surely it just means more people want or need to sell? And couldn’t you equally say it’s a lack of confidence in Colchester properties if more properties are up for sale? I don’t get it…

    • Hi. Thank you for your comments. I do agree that it is a matter of opinion whether a greater increase in the number of properties for sale means greater or less confidence with homeowners.

      In the post credit crunch 2009 Colchester housing market, the numbers of houses coming onto the market went up because people were worried about job security. By reducing their outgoings, including their mortgages, they would improve their chances of staying afloat. However, that trend encouraged properties to be heavily discounted. As we aren’t seeing discounting in the current market, I believe it’s because people are wanting to move.. and the majority are moving up market which I believe shows confidence. You have only to speak to the staff in the various show homes on the new housing developments around town to understand that new homes are most definitely selling. This I believe shows confidence in the market

  2. I’m keen to see more homeowners moving up-market so there’s more starter properties for first time buyers but, as discussed in the is renting immoral posts, I think the bulk of these will be snapped up by B2L investors.

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