The degree to which young Colchester people are locked out of the Colchester housing market has been revealed in new statistics. A Colchester landlord asked me recently to what effect homeownership rates in Colchester in the early to middle-aged adult age range had affected the demand for rental property since the Millennium. I knew anecdotally … Read moreHome ownership amongst Colchester’s young adults slumps to 46%
Today I’m going to look at several popular “home truths” about property ownership in Colchester, and the UK in general, to see whether the statistics back them up. This home truths blog post was inspired by a conversation with a retired mortgage-free Colchester homeowner concerned about the lack of opportunities for the younger generation to … Read moreColchester Property Ownership Home Truths or Fake News?
Last week, in part 1, Colchester Baby Boomers £6 Billion+ Windfall Unfair? we explored Louise’s contention that Millennials (people born after ~1985) were suffering at the hands of the older generation in Colchester who had benefited from the cumulative increase in the value of Colchester properties over the last 25 to 30 years. In addition, … Read moreMillennials Versus Baby Boomers in Colchester (Part 2 of 2)
I was recently chatting to fellow baby boomers at a family get-together. We hadn’t met since we were teenagers so there were partners, pets and grown up children which makes you realise how fast time flies. I was reminiscing about the “good old days” of 20% inflation, the 3 day week, 15% interest rates and the … Read moreColchester Baby Boomers £6 Billion+ Windfall Unfair? (Part 1 of 2)
First-time buyers are important for both landlords and homeowners. If first-time buyers aren’t buying, they still need a roof over their heads, so they rent – which is good news for landlords. If they buy, demand for Colchester starter homes goes up – which makes it easier for other Colchester homeowners to move up the … Read moreColchester First-Time Buyers Could Face 50 Year Mortgages!
It’s been clear for some time the rate of rental inflation (how much rents are rising by) has eased, in real terms, over the last year. I discussed this in my recent tenant fees ban post. My recent research shows rents, in some parts of the UK, have actually dropped for the first time in … Read moreColchester Buy To Let Long Term Predictions
In Colchester, there are 8,131 social housing households, which represent 16.22% of all the households in Colchester. There are a further 4,162 families in the Colchester Borough Council area on the council house waiting list, which is similar to the figures in the late 1990’s. In 2012 the council house waiting list in Colchester peaked … Read moreColchester Council House Waiting List Drops 14.6% Over Last 4 Years
This was prompted by a question a client asked me recently. Although moving to Colchester and leaving Colchester are two separate questions regular Colchester property blog readers will know I love a challenge – especially one that involves delving into Colchester property market stats. The short and predictable answer is “not far!” Anyone researching their … Read moreHow Far Do People Travel When Moving To Colchester?
Colchester leasehold properties have traditionally been flats or commercial premises but that’s changing as the percentage of leasehold properties increases. There are 23.36 million properties in England and Wales. 64% are owner occupied and 36% are rented from a private landlord, local authority or housing associations. Over 90% of English and Welsh owner-occupied properties are … Read moreColchester Leasehold Properties Now 1 in 14
According to the Land Registry’s latest House Price Index for Colchester and the surrounding locality, the value of Colchester apartments and flats are rising at a faster rate than terraced and town houses, semi-detached properties and even detached property. Over the past year Colchester apartments and flats have increased in value by 13.63%, which is … Read moreColchester Apartments Outperform Property Market Average by 12%