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%
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?