Over the last decade the birth rate has continued to rise adding ever more pressure on Colchester’s green belt land and the already overstretched Colchester property market. 3.11 babies were born for every new home built in the Colchester Council area during 2016. Inevitably this means more demand for housing and, along with other reasons … Read moreOver 3 Babies Born For Each New Home Built in the Colchester Area
With the general election campaigning in full swing one thing is certain – whoever gets the job to deal with Brexit has a tough job on their hands! Now Article 50 has been triggered, we have two years to make a deal with the EU or we will be facing a “Hard Brexit”. By refusing … Read moreHard Brexit Could Cause 1,800 Properties to be Dumped Onto the Colchester Property Market
There are 50,106 households in Colchester. Of those, 13,421 homes are owned outright (without a mortgage), and 16,834 homes are owned with a mortgage. I’ve been asked by landlords and friends how I think the timing and outcome of the general election will affect the Colchester property market so here’s my analysis… Often the best … Read moreHow Will the General Election Affect Colchester Homeowners?
Every day over twelve thousand people travel through Colchester train station, according to the latest Office of Rail & Road statistics, which works out to a staggering 4.5 million journeys a year. Although it isn’t immediately obvious it’s not always the swankiest Colchester streets or poshest villages around Colchester where properties sell and let the … Read moreHow Does Colchester Train Station Affect the Colchester Property Market?
The best measure of housing affordability in Colchester is the ratio of Colchester Property Prices to Colchester Average Wages. The higher the ratio, the less affordable properties are. The headline ratio of 9.6:1 is the estimated figure for 2016. Looking at the table below we can see housing affordability in Colchester has been relatively stable … Read moreColchester Housing Affordability Ratio 9.6 to 1
With plenty of interest in properties for sale in Colchester I thought now would be a good time to take a snapshot of the Colchester property market in Colchester for the first quarter of 2017. When we look at the number of properties for sale, their asking prices, and the price properties actually sell for … Read moreProperties For Sale in Colchester Up 28% Good or Bad News?
The Colchester housing market has gone through a sea change in the past decades with the Buy-to-Let (BTL sector) evolving as a key trend, for both Colchester tenants and Colchester landlords. A few weeks ago, the Government released a White Paper on housing. I have had a chance now to digest the report and wish … Read moreHow Will The BTL Sector & BTR Sector Transform The Colchester Property Market?
This week I’m going to look at Colchester’s “Generation Trapped” which follows on from last week’s post about the issues facing Colchester’s “Generation Rent”. Attitudes to renting have certainly changed over the last twenty years and, as my analysis suggested, it’s likely to be a permanent change. Although a minority of Generation Rent do feel … Read moreColchester’s “Generation Trapped” and the £8.21bn Legacy
During the “good old days” of the 1970’s and 1980’s we coped with 24% inflation, 17% interest rates, the three day working week, 13% unemployment and power cuts but at least most people aspired to buy their own homes. Most people in work could afford to buy their own homes. Why aren’t 20 and 30 … Read more“Generation Rent Forever” Have No Intention To Buy a Property To Call Home!
In May 2016, Rt Hon George Osborne, MP for Tatton, published an official HM Treasury analysis stating UK house prices would be lower by between 10% and 18%, by the middle of 2018, compared to what is expected if the UK remained in the European Union. Nine months after the Referendum let’s take a closer look … Read moreColchester Unemployment Down to 3.7%. How Does this Affect the Colchester Housing Market?