Chelmsford house prices went up by nearly a fifth in 2014
01-29-2015
By SimonMurfitt
Chelmsford prices went up 19 per cent year on year in 2014
House prices in Chelmsford went up by nearly a fifth year on year in 2014.
According to figures produced by Balgores Property Group the average house price in the city went from £242,681 in 2013 to £288,790 in 2014, an increase of 19 per cent.
Despite the increase the birthplace of radio is still one of the cheaper commuter hotspots in Essex, with just Romford and Basildon less expensive.
Both Brentwood and Hornchurch, as well as the pricey Upminster, where the average price has gone up by 16 per cent to £462,166, are way ahead in terms of property values.
One of the reasons behind Chelmsford's position could be the large amount of affordable housing being built in the city.
However the cheapest commuter town is Basildon, with an average house price of jut £216,856.
This may not be the case for long however, as prices increased by 20 per cent year from 2013 to 2014.
James Gibbon, Director of Balgores Property Group said: “It is the second year in a row that Basildon has been named best for commuters and it’s no surprise that it is so attractive to commuters.
"Property prices remain low, compared with other towns in Essex and it is benefiting from huge investment and regeneration.
“Basildon also has main road links with the A127 and the A13 into London; three railway stations going into the City; colossal redevelopment by the council; and large investment in the area, bringing new employers and new jobs."