As we come almost to the end of the year, I wanted to compare the house prices over the last 12 months in 3 different areas of Brentwood. Today I’ve gone with Pilgrims Hatch, Shenfield and Warley. Three great suburbs of our lovely Brentwood. There is certainly a good mix of homes in these areas.
All these 3 suburbs have around a population of 6000.
How much would a flat cost over the last year in these 3 areas of Brentwood? Below is a chart giving the average prices over the last year.
What is the average price of a semi detached home over the last 12 months in these 3 Brentwood suburbs.
What is the average price of a detached home over the last 12 months in these 3 Brentwood suburbs.
Next month I’m going to look at the smaller villages set around Brentwood.
Today I’ve been looking at properties for the First time buyers, getting on the property ladder is certainly not easy, but with 2 good incomes this can easily be achieved. So I’ve put together a small guide to help those thinking of making the big leap into home ownership.
1. One Bedroom house
This home costing £230,000 would need a deposit of £23,000, so over 25 years at an interest rate of 2.4% would cost £919 per month
2. One bedroom end of terraced home
This home costing £10,000 more than the first one, with a 10% deposit of £24,000 would cost £959 per month over the 25 years at 2.4%
3. Two Bedroom terraced home
Finally I have chosen this Two bedroom home, with a 10% deposit of £28,000 the mortgage over 25 years at 2.4% would be costing around £1,118 per month,
I hope that helps people to understand the price that you’d expect to pay.
Recently properties in the million pound plus market have soured. Top end homes are finding buyers 18 days faster than last year, outperforming the 9 day drop seen across the whole market.
In August 2020, the number of £1m plus homes finding a buyer rose by 105% annually. This highlights just how in demand these properties are.
Here is 3 properties in Brentwood which are in this price bracket. Again with more people working from home this could be an excellent time to move to a larger property to house an office or work space in a garage.
Properties in Brentwood had an overall average price of £484,000 over the last year.
The majority of sales in Brentwood during the last year were semi-detached properties, selling for an average price of £474,000, Detached properties sold for an average of £800,000, with terraced properties fetching £373,000.
Overall, sold prices in Brentwood over the last year were 1% up on the previous year and similar to the 2017 peak of £483,000.
Brentwood is an ideal location for commuters being only 20 miles from London, and with more people working from home, now could spark a rise in people moving out of London and out into the country side of Essex.
One thing for sure is that you get a lot more property for your money!!!