House prices in the Essex city have fallen in the last year, from £421,765 a year ago to now £415,546, according to OnTheMarket. But the proportion of homes for sale that are under offer or sold subject to contract is now 45pc, up 4.7pc in the last year.
Its Bond Street shopping and restaurants continue to attract young professionals; last month it was named the best train station for London commuters by On Time Trains, with 88pc of its trains running on time in 2023. The arrival of a second station – at Beaulieu Park, in 2025 – will help cater for the hundreds of new homeowners in developments in the east and northeast of the city.
It was ease of access to London, good schools and the prospect of property price rises that drew Ellyanne and Russell Bradley to Beaulieu on the northeast outskirts of Chelmsford in 2022. The parents of two children bought a four-bedroom house on Cala Homes’ development within the 604-acre new district, where the new train station is being built.
“We longed for greener surroundings after feeling cooped up during Covid and wanted to upsize from our old village, 15 minutes from Beaulieu,” said Ms Bradley, a procurement manager.
“We wanted to be rural, and had plans to move to Saffron Walden, but the waiting list for schools was a nightmare. With the children approaching secondary school age, the schools in Beaulieu’s catchment appealed. It’s within easy reach of Chelmsford centre, with lots more outside space.”
Karl Manning, of Savills, said they continue to see upsizing buyers from south-west Essex and east London looking for space and schooling.
“Our most recent sale was a 1920s five-bedroom house that went for just under the guide price of £995,000, after numerous viewings.” Those looking for a bit more value might look to Chelmer Village, where three-bedroom houses are around £350,000.
Mark Lawrinson, of Beresford, reports that there are 38pc more first-time buyer applicants than a year ago. “The strongest activity is £250,000 to £300,000 – one and two-bed flats.”
He added that in the centre, studio flats for around £170,000 are still interesting BTL investors too.
