It is clear to me that Essex is becoming one of the hotter property markets in the UK and, during conversations with the county’s agents and our clients, I’ve been finding out why.
Headlines about the counties’ house prices have been coming in thick and fast and London’s Metro newspaper recently reported that prices in Essex were ‘booming’ particularly in the West Essex towns within easy commute of London.
Although there are several reasons why Essex is attracting so much interest, one of the main ones is value for money. In many of its prime areas larger family homes are for sale at a considerable discount when compared to similar (or smaller) properties within London. This in part explains why it is the counties’ towns nearest to the Capital that are doing well.
However, there are other factors at play in the Essex property market. Properties within the county were largely bought by ‘locals’ in the past but it is beginning to attract greater numbers of people from outside who previously might not have bought in Essex. Now many are fast realising that the short train journeys into London’s main financial districts, as well as excellent local state and independent schools, do make it an ideal choice for their next home.
The lure of Essex is still hard to resist once you’ve lived there though. At Garrington we’ve been fielding an increasing number of calls from Essex ex-pats overseas, particularly from the Middle or Far East who want to buy into their former home property market, before rising house prices in central London ‘ripple’ out into Essex, even though it may be several years before they return.
So these are the reasons why Essex is currently one of the most active and interesting property markets in the UK. If you agree with me and would like to buy a property there please do not hesitate to contact Garrington.