The Great Billericay Space Race: Why Choosing a Semi Over a Detached Is Currently the Smartest Play in CM11
Hello there! Mark Readings here. I was wandering through Downham earlier today, dodging a rather large tractor near School Road, and it struck me: the property market in Billericay is currently a bit like a game of musical chairs played at a local village fête. Everyone wants a seat, but the speed of the music—which is basically how much it costs to borrow money—determines who gets to sit down and where.
Here is a bold thought for you: even though those grand detached houses in Ramsden Bellhouse (like the ones on Glebe Road fetching over £2 million lately) are the local "trophy" homes, they aren't the ones winning the race for growth. If you want your money to work the hardest, you might actually be better off sharing a wall with your neighbour!
The CM11 Price Tag: What’s the Difference?
Right now across the CM11 postcode, the average asking price sits at £582,412. But as any local knows, that number is a bit of a mishmash. Did you know that the price gap between different types of homes here is wider than the River Crouch?
- Detached Houses: These are averaging £760,648.
- Semi-Detached Houses: These sit around £461,738.
- Terraced Houses: These are usually found for about £399,607.
To put that in plain English: the jump from a terrace to a semi is about £62,000—roughly the cost of a really high-end kitchen and a brand-new car. But the jump from a semi to a detached? That’s nearly £300,000! That is a massive "space tax" you pay just to have no neighbours touching your walls.
The 7-Year Surprise
This is where things get really interesting. If you bought a semi-detached home in a lovely spot like Ramsden Heath seven years ago, you’ve done incredibly well. Your home has gone up in value by 19.3%, adding over £74,000 to your pocket.
Compare that to the big detached houses. They’ve grown by 12.3% in the same time. While they’ve added £83,000 in value (a bigger raw number), they’ve actually grown slower percentage-wise. The humble semi-detached is the silent champion of Billericay!
Why is this happening? (The Money Bit)
You might wonder why the smaller homes are sprinting faster. It all comes down to what’s happening in London and the big banks. The Bank of England rate is currently 3.75%, and inflation is at 3.3%. This means that borrowing money is a bit more expensive than it used to be.
When it costs more to get a mortgage, fewer people can stretch to those £760,000 detached homes. Instead, everyone piles into the middle of the market—the semis and the terraces. Because there are more people fighting over those homes, the prices stay strong and keep climbing.
What should you do?
- If you own a semi or terrace: You are sitting on a goldmine. These are the most popular homes in CM11 right now because they are the "sweet spot" for families who want to live in Billericay without the detached price tag.
- If you are looking for a detached home: It’s actually a great time to be a buyer. Because these homes aren't growing as fast as the others, you might find you have more room to haggle than you would have a few years ago.
- For First-Time Buyers: It’s tough out there, but terraced homes under £400,000 are still the best gateway into the area.
Looking ahead to 2027, I expect the "middle market" to stay king. As long as it stays a bit pricey to borrow money, those sensible family homes in our local villages will be the ones everyone is chasing!