Choosing the perfect location to buy property in the UK involves a lot of factors.
This piece discusses the nature of Rightmove (and other listing platforms) data for Chelmsford, aiming to guide your investment decisions.
It’s worth noting that currently, 46 properties are listed for sale and sold on Rightmove in this area every single month so you have an idea of your options to pick from.
We will also go over the properties for rent in the area on Rightmove if you are looking to become a new tenant.
A list of properties for Sale in Chelmsford on Rightmove
Linking rental yields with Rightmove property listings in Chelmsford
A serious investor will know what yield is and how to work it out. The formula is true for Chelmsford and everywhere else in the UK. Simply calculate net rental yield and the purchase price of the home and then divide the former by the latter. When this calculation is done, for Chelmsford the figure is £0.
This £0 as a percentage is essentially the amount of money that a landlord makes from the deal in relation to the amount of money they have invested. Take a look at other calculations too like return on capital invested to get a return that is comparable to a direct “return on investment” calculation such as that of a bank.
What is a commons purchase price for property on Rightmove?
Using Rightmove, there is an average sold price of property that is £359,430 in Chelmsford. The average sold price provides a benchmark for understanding property values in the area and you may want to look at a more detailed overview of individual types of property below.
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How can property investments be made using Rightmove data?
Rightmove data can tell you a lot about the average asking rents of the area of Chelmsford. For example, the table below goes over how rents are distributed according to the number of rooms in the property. Also, the national figure for rental yield that is most common is 4.4%. The £0 which is the average yield of rent in the area can be compared for reference.
Read on to see what kind of rent you are looking to charge if you bought a property to see what size is best. Bear in mind as you do so that the average amount of rent that is asked for is £1,176.
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In terms of the number of planning permission applications on Rightmove, what should there be in Chelmsford?
The city of Chelmsford, according to Rightmove listings, has a commendable planning success rate of nan and there are around 41 that happen every month. These individuals showcase their ability to change a property and potentially add value through home improvement in Chelmsford.
It is worth noting that the more homes sell on a monthly basis, the more buyers and competition there tend to be. This figure for Chelmsford is talked about below and in the following headings.
An overview of Chelmsford property in Rightmove from an investment perspective
When considering buying a house for an investment in the area of East of England, you can click here to find further information about houses for sale. There are also a few metrics to look at that make the investment more appealing.
For instance, you should look at the number of property sales that the area has every month which is 46. This, alongside the city’s relative population, should give you an indication of the turnover. The turnover is a piece of data that looks at how many houses have been sold in relation to the number of properties there are.
On average throughout the UK, in a calendar year, this data is around 22% but for Chelmsford it is 1.38. Finally, a growing population is always a good sign. The change in population that has happened over the last decade has been 6%. So, you can make of that as you will.
Properties to Rent in Chelmsford on Rightmove
Not everyone wants to buy a house, in the below headings, we go over what is useful to know when renting a property instead. Consider paying letting agents fees if you don’t want to find tenants yourself. Also, once you have researched your area in detail, make sure you have the right AST to sign them with.
What is the outlook for social rent and affordable housing according to Rightmove in Chelmsford?
Not everyone is inclined to purchase a house and in fact, some people are actually struggling with renting to the extent that they have to rent from the government. According to data scraped from Rightmove and listing portals that are popular in the UK, 8% of individuals in Chelmsford rely on government rent and the average household income in the district is £45,160.56.
Always visit an area too to find out what the area is truly like and compare these figures to the national averages of 22.6% (on social rent) and £34,000 (in household earnings per year). Most people prefer to live amongst people where their incomes are similar.
If you are a tenant, perhaps move in as a lodger in an excluded tenancy agreement instead of as an assured tenant. While you have fewer rights, a tenancy may be easier to secure.
Concerning Rightmove, what is the education level like in Chelmsford?
In the city of Chelmsford, the population is 73717. Out of all of these people, it is worth noting the education level. 26% have a degree (a higher level educational degree). Also, the average household income of the area is £45,160.56. This is important to understand for renters as if the degree level is above the average of 22.6%, your neighbours will likely be higher earners. This is not always the case and there are still other factors that determine the quality of your neighbours but taking a note of the degree is always useful.
How much green space do properties have in Chelmsford according to Rightmove?
Green space is universally recommended but unfortunately often compromised in various locations. In cities, the amount of green space often falls below the recommended threshold of 6 acres of green space per thousand people.
In Chelmsford, the current data indicates the presence of 27.0 acres of green space per thousand residents. By comparing this value to the recommended benchmark of 6, we can evaluate the sufficiency of green space in the area.
According to Rightmove data in Chelmsford, is it worth moving into a HMO?
Prospective tenants should be aware of the average asking price for a House in Multiple Occupation (HMO), which currently stands at no relevant data for this city.
Tenants should also consider how significant, if at all, the saving in rent is when comparing the price to rent in a normal house you do not have to share in Chelmsford.
Renting an HMO can provide a more affordable alternative to traditional rental arrangements and for context, there are a predicted 13,500 licenced HMOs in London. In Chelmsford, there are nan for comparison so you are able to tell how abundant this type of property is.
Do not think that all HMOs have to be small rooms with a lack of space either, you also have the option to rent out a HMO with an ensuite. The average rents for this type of room stands at £618.
Frequently Asked Questions by Rightmove users
Discover the mean property value in Chelmsford as reported on Rightmove.
The mean property value in the UK is £286k but is changing all the time. Meanwhile, in the local area of Chelmsford, the average cost of a home available for purchase is £359,430. You can compare these figures to see how far away this city is from the average.
Does exploring properties on Rightmove within Chelmsford come with any fees you may not be aware of?
Vigilance is key for landlords, encompassing factors like the stamp duty rate, renovation expenses, and the potential deductible costs based on whether the property is incorporated as a limited company or under your personal name.
Is there substantial criminal activity in the area around Chelmsford as indicated by Rightmove?
The current crime rate in Chelmsford is such that 9500% incidents are recorded for every 1000 residents.
According to online listings, what’s the count of property transactions per month in Chelmsford?
46 properties are sold in the area every month. A figure you should pay attention to, particularly if you are an investor looking to
What’s the average cost of a three-bedroom property in Chelmsford as per Rightmove data?
The mean asking price for a property featuring three bedrooms stands at £1,247.