Huge growth in Essex buy to let market set to continue

By the Beresfords Marketing Team - 16th July 2012

Demand from investors looking to purchase buy-to-let properties in Essex is growing, with the number of registrations for investment properties increasing by an incredible 85% since 2008.

Tempted by strong rental yields and the prospect of good long-term capital appreciation, these investors are increasingly looking to buy homes in the popular residential hotspots of Shenfield, Chelmsford, Romford, Brentwood, Billericay, Braintree Colchester, all of which have excellent commuter links.

The so called “generation rent” of would be first time buyers priced out of the market has increased dramatically over the past five years, fuelling the demand for rental property. Further research from Beresfords also shows that the number of people looking to renew rental contracts at the end of their tenancies rose by 11% in the last 12 months.

Steven Bond, Managing Director of Residential Lettings at Beresfords, comments:
“An increase of 85% in the number of people looking for buy-to-let properties since the early credit crunch days of 2008 shows that investors are seeing this as a very viable form of long term investment. Feedback from our specialist property investment division shows that more people from all rungs of the property ladder see renting as a convenient option and we expect to see continued growth in the local rental market from renters and investor alike.

“Essex not only has superb connections into London, commuters can be in the city in approximately 20 minutes from Shenfield, but the arrival of Crossrail in 2018 and Chelmsford’s new city status is really putting it on the map and creating interest from across the UK. ”