Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Chelmsford, Essex.
From the average asking price of houses for sale in Chelmsford, to the growth of the population in the area, all will be talked about regarding the city of Chelmsford. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
Invest in houses for sale in Chelmsford with the right professional advice
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial
In general, what do houses for sale sell for in Chelmsford?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Chelmsford. In Chelmsford, this sale price works out to be £359,430. As an example, a factor like population growth over the last 10 years which works out to be 6% in Chelmsford and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£496,115|
|Average sold price (semi-detached)||£348,120|
|Average sold price (terraced)||£294,110|
|Average sold price (flat)||£199,857|
Above, the exact type of house is also shown to vary in price in a table in Chelmsford. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
|Housing category||Sale price per square foot|
|Average sold price/sqft||£3,715|
|Average sold price/sqft (new build)||£4,150|
|Average sold price/sqft (old stock)||£3,625|
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Chelmsford which is £3,800. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
Choose the right house for sale that suits your needs
Many criteria impact the price of houses for sale in Chelmsford.
Here below are the most important ones according to Lofti’s expertise:
Affordability – (see what house for sale can you afford?)
A guide from the UK government
House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.
Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying
Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom
Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.
Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale
Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance
Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.
On average, what is the figure for the asking price of a house for sale in Chelmsford?
Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Chelmsford determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £440,622.
Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Chelmsford.
Average price of houses for sale in Chelmsford
|Average asking price (1 bed)||£206,698|
|Average asking price (2 bed)||£306,476|
|Average asking price (3 bed)||£426,688|
|Average asking price (4 bed)||£586,989|
|Average asking price (5 bed)||£749,941|
The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £2,135. Telling you what type of house is most in demand relative to the price of the area.
This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Chelmsford has a lack of supply of housing in certain categories.
What are the people like in Chelmsford?
Are the deprivation levels of the UK any different to Chelmsford?
Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of £0 for Chelmsford should give you a nice idea of the deprivation in the area.
In Chelmsford, how has the population changed?
In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Chelmsford is 73717.
Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.
The most important variable is the location of the houses for sale in the city of Chelmsford.
In Chelmsford, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 3%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here
This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.
Making predictions about the future growth of Chelmsford is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.
Comparing this figure for the 5 year growth (3%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.
Chelmsford population difference over 10 years?
The population has adjusted in the area of Chelmsford by 6% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.
This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Chelmsford.
To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.
In general, do people commit a lot of crime in Chelmsford?
Within Chelmsford, the number of people committing crimes is 9500% per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.
As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.
If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 9500% figure carefully.
What salary does the community in Chelmsford take home?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Chelmsford. Compare the area’s average household income of £51,750.00 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 29% for more conclusive data on the affluence of the area.
What is a social grade score and how does this relate to Chelmsford?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Chelmsford, the percentage of people in the two highest categories, A and B is 29%. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is £51,750.00. This income will generally get bigger as the percentage of people in the A and B categories go up too (29%).
In the city of Chelmsford, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Essex for example.
These demographics for Chelmsford may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Chelmsford in East of England.
In Chelmsford, how educated are people in general?
In Chelmsford, the proportion of people who have a degree is 26%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Chelmsford is £51,750.00.
This figure for average household income usually goes up alongside the percentage of people who have degrees.
However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.
Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.
In the city of Chelmsford, how much green space remains for residents?
In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Chelmsford, the city has 23 per 1000 residents.
This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Chelmsford.
What’s the rental yield in general for the city of Chelmsford?
Are there new houses being built in Chelmsford to make it grow?
Whenever you are thinking about looking for houses for sale in Chelmsford, think about how the city is growing and how this may impact the overall growth of the area.
Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.
|1 year||3 years||5 years|
|Chelmsford growth rate||5%||15%||19%|
As the population of Chelmsford grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Chelmsford this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (East of England) alongside Essex then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Chelmsford.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|East of England||0.03||1,148.32||£1||16.58%|
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Chelmsford.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (46) will be useful.
Are you considering other cities with houses for sale?
You can consult our list below that goes over a list of cities not necessarily in East of England, allowing you to find similar places to Chelmsford:
- belton in East of England
- babell in East of England
- cadoxton in East of England
- ardeley in East of England
- highbury in East of England
You may also refer to our webpage specific to UK houses for sale to get an overview of the large number of cities in the area, houses for sale in the UK
Do properties in Chelmsford have the potential for renovation?
Chelmsford is likely to be a great place for revamping property if there is a lot of greenlit planning permission. The are 41 each month, attaining a success rate of nan and a total population of 73717. You can find out if this is above or below similar areas in the UK by comparing it to a nearby place
What’s the number of property sales each month in Chelmsford?
In the city of Chelmsford, there are 46 and in the total for the UK, there are around 1.1 million property sales.
In a city like Chelmsford, what’s the yearly fluctuation in population?
For a comprehensive analysis of Chelmsford’s population trends, observe the population fluctuation over a decade, indicated by 6%, and the five-year alteration represented by 3%. Perhaps also look at data from another nearby city too so you can see a comparison.
prices for houses on sale in the broader vicinity of Chelmsford?
Currently, the mean asking price of a house in Chelmsford is £2,135, calculated using the average value per square foot
Is purchasing a house in Chelmsford considered a costly decision?
Determine whether a property is expensive by comparing a list of houses for sale to the prevailing average selling prices. In Chelmsford, this figure stands at £359,430, while the UK average is £286,500.