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Essex Stock Level Charts

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I've been recording the numbers of properties on the market in Chelmsford since early March. In early July I added several other Essex towns to increase the data sample and give an overall gauge for Essex. Figures are an avergage number for the week.

Heres the data as of early July:

030710.png

As you can see the emergency budget on June 22nd caused a slow done of new listings although the average for the week never fell below the previous weeks. In the weeks after budget the trend resumed and has accelerated in the last week.

I may start a new search using the combined totals of serveral Essex towns to create a larger data sample and a more accurate measure. Possibly Braintree, Billericay and Brentwood.

Here's the up to date Chelmsford chart with week 17 being last week.

39908047.png

Here's the Essex chart which is all properties over all the towns added up:

67454025.png

And the breakdown of the five individual towns:

99389915.png

(+5 miles)

59617497.png

47303698.png

30313247.png

61123676.png

(+1 mile)

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I'm looking at areas from Chelmsford to Braintree also. Still too many deluded vendors out there and unrealistic prices. My budget is probably more modest than yours PU. The best of what I've seen has generally been snapped up though, even if stocks are appearing to rise. I rent in Billericay, a vastly overrated and overpriced town. Stupid asking prices for average houses in basically whats a posh suburb of 'Basildon'. Would have no desire to stay here.

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That;s very useful. I'm glad someone is doing their own numbers. Any idea of what inventory levels are like ie is supply outpacing demand?

Whenever the stock level lines are rising supply is outpacing demand. So everywhere but billericay has more sellers than buyers.

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I'm looking at areas from Chelmsford to Braintree also. Still too many deluded vendors out there and unrealistic prices. My budget is probably more modest than yours PU. The best of what I've seen has generally been snapped up though, even if stocks are appearing to rise. I rent in Billericay, a vastly overrated and overpriced town. Stupid asking prices for average houses in basically whats a posh suburb of 'Basildon'. Would have no desire to stay here.

Billericay is a ridiculously overpriced town. Although I've never really been to Braintree prices are much lower there. Even saw a one bed end terraced for £110k there which is the lowest priced proper house I have ever seen in my search area.

Prices are beginning to drop in Essex but it's slow, some very big reductions in benfleet recently 30%+ off but mainly it's just small 5% reductions. Seeing some lower priced new listings but also still some who apparently think it's 2007!

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Billericay is a ridiculously overpriced town. Although I've never really been to Braintree prices are much lower there. Even saw a one bed end terraced for £110k there which is the lowest priced proper house I have ever seen in my search area.

Prices are beginning to drop in Essex but it's slow, some very big reductions in benfleet recently 30%+ off but mainly it's just small 5% reductions. Seeing some lower priced new listings but also still some who apparently think it's 2007!

had a look at this area cos my brother is selling here - looks like they have been selling, mid 2010, for 2007 ish prices, so can't blamew the vendors for trying to cash in

(I am bearish but sheeeeeeeeeet this is shocking in some areas)

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After a couple of weeks of fewer new properties coming on, fewer price drops and more going SSTC, this week seems to have resumed the pattern through the summer. I have seen a high number of properties come on and started seeing some entering my price range that could well suit me.

Would be interested in how the numbers are looking now when you get a chance Pent Up?

Edit: I am looking at Chelmsford and surrounding area.

Edited by BornAtTheRightTime

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After a couple of weeks of fewer new properties coming on, fewer price drops and more going SSTC, this week seems to have resumed the pattern through the summer. I have seen a high number of properties come on and started seeing some entering my price range that could well suit me.

Would be interested in how the numbers are looking now when you get a chance Pent Up?

Edit: I am looking at Chelmsford and surrounding area.

Levels have certainly dropped off in most areas I measure over the last couple of weeks. My overall Essex level is down slightly so far. Seeing some nice reductions. I'll give it a couple more weeks and then post an update.

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Update 23/10/10

After the late summer dip in most areas levels have picked up again. Essex levels overall have been relatively flat for some weeks. I expect they will fall off over the next few months as people take their houses off the market for the winter.

essexs.png

billericay.png

Braintree going strong :)

braintree.png

saffronwalden.png

shenfield.png

writtle.png

chelmsford.png

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my brother is looking to buy a place in Billericay, and says he is fully prepared to gazump anyone who he has to compete wwith for a property

what is actually going on in estate agents' offices down there?

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my brother is looking to buy a place in Billericay, and says he is fully prepared to gazump anyone who he has to compete wwith for a property

what is actually going on in estate agents' offices down there?

Is your brother mentally unstable?

I've not actually been to billericay for a long time now. (thank god) I can't imagine it's any different from other areas locally in which case I doubt he will find anyone to gazump as not much is selling.

Tell him not buy anywhere near the high street or station if he wants any sleep at night. Also try to keep away from those areas after dark. It's full of pissed up chavs out for a fight.

If he is dead set on buying why not look at a cheaper more desirable area? Does he live nearby currently?

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Is your brother mentally unstable?

I've not actually been to billericay for a long time now. (thank god) I can't imagine it's any different from other areas locally in which case I doubt he will find anyone to gazump as not much is selling.

Tell him not buy anywhere near the high street or station if he wants any sleep at night. Also try to keep away from those areas after dark. It's full of pissed up chavs out for a fight.

If he is dead set on buying why not look at a cheaper more desirable area? Does he live nearby currently?

His missus' family are property bulls as is my family. He has had obscene family money thrown at him to buy his first house near Chelmsford 5 years ago, now reckons he want to get a bigger house in Billericay instead. Has an offer on his current Chelmsford house now and reckons this is a dead cert. Lost some money even on thsi surprisingly good offer he has received, but wants to increase leverage in Billericay. Mum said she will help him with life savings if necessary as it's an investment. Scary, and I am of course a deranged person for preaching caution.

Edited by Si1

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His missus' family are property bulls as is my family. He has had obscene family money thrown at him to buy his first house near Chelmsford 5 years ago, now reckons he want to get a bigger house in Billericay instead. Has an offer on his current Chelmsford house now and reckons this is a dead cert. Lost some money even on thsi surprisingly good offer he has received, but wants to increase leverage in Billericay. Mum said she will help him with life savings if necessary as it's an investment. Scary, and I am of course a deranged person for preaching caution.

It's crazy isn't it! Maybe you should ask your Mum if you can have some money to gamble on the stock market?

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It's crazy isn't it! Maybe you should ask your Mum if you can have some money to gamble on the stock market?

don't even want to go there.

it IS just sentiment, there is no malice, but it is quite, erm, anoying

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I've not actually been to billericay for a long time now. (thank god) I can't imagine it's any different from other areas locally in which case I doubt he will find anyone to gazump as not much is selling.

Wish this were true, a lot of what I have been following in CM2 has gone sstc in the last week or so. As for Billericay, well it depends how much money he has, there are some fairly decent places along / off of Stock road. I drive along it everyday, and the for sale signs turn into sstc, a lot faster than you'd expect.

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Billericay is one of the most desirable places in southern Essex, mainly thanks to the well paid Ford engineers working locally. (Isn't that right, Feed?!).

Well I doubt its just Ford salaries that keep prices up in Billericay, there are plenty of people there that commute into town. And not everyone a Ford lives locally, quiet a few come in from Kent, and a fair few live in town and commute out. Southend is fairly popular as well.

But then I can see Ford money potentially stemming any serious falls.

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http://www.rightmove.co.uk/property-for-sale/property-17805672.html

4 bed house, in need of refurb, at 170k in Writtle, undercutting all the modernised 3 bedders in the same area on for 210k+

my view was always that when you buy a house you are going to decorate it the way you want anyway, so why by 30k+ worth of someone else's taste only to replace it, why not simply buy a doer-upper in the first place?

</h3>

<h3 class="">Key features:
  • Mid Terrace House
  • Four Bedrooms
  • Through Lounge
  • Approx. 30' Rear Garden
  • Requiring Refurbishment/ Modernisation
  • No Onward Chain

Full description:

Offered for sale with the benefit of no onward chain, is this four bedroom mid terrace house which is in need of modernisation and refurbishment. Accommodation comprises of four bedrooms to the first floor, whilst to the ground floor there are lounge, kitchen, lean to and bathroom. There is an approximately 30' rear garden, whilst to the front there is hardstanding providing off street parking. The property is conveniently situated for Writtle amenities and being within walking distance of Writtle Infant & Junior school and bus route into Chelmsford town centre.

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http://www.rightmove.co.uk/property-for-sale/property-17805672.html

4 bed house, in need of refurb, at 170k in Writtle, undercutting all the modernised 3 bedders in the same area on for 210k+

my view was always that when you buy a house you are going to decorate it the way you want anyway, so why by 30k+ worth of someone else's taste only to replace it, why not simply buy a doer-upper in the first place?

</h3>

Can't say I'm keen on that area of Writtle. I wish they would put internal pics on doer-uppers, it would be nice to get an idea of the lay out, room sizes and the amount of work that needs doing.

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Finally got round to posting the updated charts as of 04 August 2011

Chelmsford:

chelmsford.png

Braintree:

braintree.png

Billericay:

billericay.png

Shenfield:

shenfield.png

Saffron Walden:

saffronwalden.png

Writtle:

writtle.png

Essex:

23814807.png

Generally a good increase through spring. Mostly settled down a higher level now we are into the summer low albeit at fairly high levels. Should see more increases as we go into Autumn.

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  • 142 Brexit, House prices and Summer 2020

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      • down 5% +
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