One of the most frequently asked questions anyone involved in the local property market hears is “What’s happening to the Colchester Property Market?“. It’s an easy conversation starter but having answered the question so many times and bearing in mind my penchant for research I’ve come to the conclusion there isn’t just one big Colchester property … Read moreColchester 3 Speed Micro Property Markets
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!
When George Osborne announced plans to restrain the buy to let (BTL) market, back in November 2015, his aim was to take the pressure off aspiring first time buyers competing with landlords for the limited number of first time properties on the market. It’s unlikely he expected landlords to open a BTL limited company to … Read moreSurge in Colchester Landlords Setting up BTL Limited Companies
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%
The question of forced OAP downsizing was raised following my recent “Generation Trapped” post about Colchester OAPs stuck in their family homes. It’s obviously unthinkable to force OAPs to downsize but it does throw up the question of whether the government needs to use a carrot AND stick approach to change the status quo. After … Read moreShould Colchester OAPs be Forced To Downsize?
There’s a lot of interest and speculation about the prospects for the rental property market post Brexit. Understanding what happened during the credit crunch, and what has happened since, should help us better understand the possible ramifications for rental income and property values for long-term investors in the Colchester property market. The performance of rental … Read moreColchester Rents Up 19% Since 2005 But Down 20% in Real Terms!
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