Property sales up 40 per cent

Essex County Standard: Property sales up 40 per cent Property sales up 40 per cent

A bidding war which erupted over a rundown three bedroom house and ended with the buyer paying well above the asking price, highlights just how competitive today’s property market is.

The detached property, which was described as being in need of full renovation, came on the market at £350,000 with Beresfords estate agents.

But within 48 hours numerous buyers had viewed the London Road home, in Braintree, and four buyers had entered into a price war to secure the sale.

This is just one of many examples from across the county which show just how fast Essex’s property market is moving.

Another three bedroom home in Park Road, Brentwood, was under offer within 24 hours of being put on the market.

Latest figures from Beresfords estate agents show a 40 per cent increase in the number of its properties sold in 2013 compared to the year before.

It claims new buyers are up by 26 per cent and puts the increase down to schemes such as the Government Help to Buy project.

Managing director Paul Beresford said: “Not only did we see an increase in the number of prospective buyers entering the market last year, but the 40 per cent rise in transactions shows just how serious these buyers are.

“We are also seeing an increasing influx of buyers from London and its suburbs who are drawn by the fast commuting times.

“Essex’s commuter hubs are attracting investors because of their attractive yields, up to eight per cent, and the growing number of young professionals looking to rent in central locations.

“The continued infrastructural investment, as well as a wealth of new retail and leisure facilities, is adding to the draw of the county and, consequently, the potential for long-term asset growth.”

Comments (6)

Please log in to enable comment sorting

5:35pm Fri 31 Jan 14

stevedawson says...

Nice just so long as the bank rate stays low.vote ukip.
Nice just so long as the bank rate stays low.vote ukip. stevedawson

6:07pm Fri 31 Jan 14

greenbroker says...

It's nearly springtime and it looks like 'they' are talking the market up.
It's nearly springtime and it looks like 'they' are talking the market up. greenbroker

11:31pm Fri 31 Jan 14

Boris says...

Two hated groups - politicians and estate agents - unite to make life more difficult for almost everyone.
We need 300,000 new council houses for rent per year. But all we get is measures to help buy-to-let property speculators.
Utterly disastrous.
Two hated groups - politicians and estate agents - unite to make life more difficult for almost everyone. We need 300,000 new council houses for rent per year. But all we get is measures to help buy-to-let property speculators. Utterly disastrous. Boris

9:10am Sat 1 Feb 14

LeQueen says...

A market in action is a beautiful thing.
A market in action is a beautiful thing. LeQueen

10:13am Sat 1 Feb 14

HARRY438 says...

How much did it go for?
How much did it go for? HARRY438

1:59pm Sat 1 Feb 14

Harry-Brown says...

stevedawson wrote:
Nice just so long as the bank rate stays low.vote ukip.
yep i paid 16% at one time i should have thrown the towel in and got a council place.
now its got to pay for my care
spoonfed sick in some nursing home for £700 per week
i suppose my house will last me about 4 years to pay some rich guy to look after me
then im in a box burnt to a cinder and thats the end of it
mr no body
and all for what?
[quote][p][bold]stevedawson[/bold] wrote: Nice just so long as the bank rate stays low.vote ukip.[/p][/quote]yep i paid 16% at one time i should have thrown the towel in and got a council place. now its got to pay for my care spoonfed sick in some nursing home for £700 per week i suppose my house will last me about 4 years to pay some rich guy to look after me then im in a box burnt to a cinder and thats the end of it mr no body and all for what? Harry-Brown

Comments are closed on this article.

click2find

About cookies

We want you to enjoy your visit to our website. That's why we use cookies to enhance your experience. By staying on our website you agree to our use of cookies. Find out more about the cookies we use.

I agree