2019 was a tumultuous year for Essex house prices, with political turbulence causing havoc on values up and down the country. Homeowners are rooting to get more value for their investment and house hunters are looking to bag a bargain. So, whether looking for a property or if you’re already a homeowner, it’s important to keep an eye on home values in your area.
For over 25 years, Maybank Solutions has been in the business of improving homes throughout London and Essex. There have been a lot of changes in that time, with house prices jumping well over 250%. With the turmoil in the halls of Westminster over the past few years, which way are these house prices trending? We take a look at a few key areas across the county:
CHELMSFORD HOUSE PRICES
Zoopla estimates the average value of homes in the UK’s newest city to have risen between January 2019 and January 2020 by 3.3%, an impressive £12,800. Though the average price paid in the same period was £385,000, the property site estimates Chelmsford’s average home value to sit at around £402,000.
Chelmsford is the only city in Essex and is located within the London commuter belt, around 30 miles (48 km) from London’s Charing Cross. The area has a large urban population and an easy journey up the A12 from our home base in Rainham. Chelmsford features a variety of homes from developments erected between the 1930s and 1970s to ideal starter flats for first-time buyers.
EPPING HOUSE PRICES
Epping is only 17 miles from the centre of London. Therefore making it ideal for people commuting from the nation’s capital. As a result, the average value of a home in East Essex town is around £580,000. Between January 2019 and January 2020, the value of homes in Epping decreased by around £5,800, a drop of just under 1%.
Epping is a vibrant market town boasting a variety of homes from new builds to period properties. The beautiful rural town is also home to a number of historic Grades I and II listed buildings. Some of which includes Copped Hall, St Margaret’s Hospital and several 18th-century homes lining both sides of the high street.
MALDON HOUSE VALUES
Maldon was given the title of “best place to live in the countryside” by the Times in 2014. Since that article was written, house prices in the town have jumped a staggering 24.69%. Today, the town’s average home value is around £367,000, jumping £5,500 (or 1.5%) in the year between January 2019 and Jan 2020.
One of the county’s oldest towns on record, Maldon sits on the Blackwater estuary and world-renowned for Maldon Salt. The town’s storied history can be traced back over 1,000 years to Anglo-Saxon times. There are still reminders of days-gone-by. Remember the old timber frames featured in some of the properties on Maldon’s high street?
ESSEX HOUSE PRICES
Essex’s home values are still well above the UK average. According to data from Zoopla, the average house value in Essex is around £372,000. This is compared to the national average of around £314,000. Despite uncertainty around Brexit and other economic factors, the value of the average home rose by 1.52% in the county (around £5,500). This is based on the 12 months between January 2019 and 2020.
Essex has long been a popular place to live, especially for families looking to avoid London’s hustle and bustle. It’s a beautiful county with a mix of urban towns and rural areas to satisfy anyone’s living requirements. Essex’s blend of settings is matched by the mix properties in the county. From elegant country estates, Edwardian and Victorian homes and modern newly built apartments and everything between.
HOME IMPROVEMENT EXPERTS IN ESSEX
Let Maybank Solutions help you take control of the value of your home. Upgrading to energy-efficient double glazing doesn’t just help to maintain a comfortable temperature throughout the home. It will also save money on energy bills. These windows can also dramatically improve your home’s kerb appeal. Increasing your home’s living space with a conservatory can also raise the value of your home by as much as 10%. These are just a few steps to increase the value of your home and making it more appealing to potential buyers.
Over the past 25 years, we’re proud to have developed a long list of satisfied customers across East London and Essex. We understand that every homeowner has a different style and personal taste. We work with them to ensure that we find the perfect windows, door or conservatory for them and their home. You will be guided throughout every step of the buying process to make it as smooth as possible. For more information on any of our products or services, contact us online or get a free, no-obligation quote.