CM11 June 2021 Housing Market, Covering Billericay, Ramsden Bellhouse and surrounding areas

As a local resident living in CM11, I am always super interested in the housing market, even more so being an estate agent, but we all are, right? 

A house is a private haven, a place to relax, a reflection of our personality. Still, we also want to know if our investment is protected. Has your home increased in value? Do you have more equity, so you are more secure? 

To help keep you updated with market conditions, I enclose a local CM11 monthly report.

CM11 June 2021 Housing Update

Summary

Prices in CM11 have continued to rise during the pandemic and are sitting at 2.2% higher than June 2019. The five-year price growth is now at 22%, which shows the quality of the location and the resulting demand. I get asked for my long term prediction on house prices in CM11. While I am a positive person in general, I cannot see any indicators that stop a positive outlook.  

• Firstly, money is cheap
• Interest rates are at an all-time low
• Unemployment has remained stable
• Demand for CM11 is massive
• Pent-up consumer spending will boost the economy when we phase out lockdown' 

I do expect a small drop in demand once the stamp duty holiday comes to an end. Still, as the average price is so high in CM11, I expect prices to remain stable, with a continued rise after that.

Local numbers:- 

• Population: 19,234
• Households: 7,523 high

Housing growth: 

• Increase of 0.4% versus June 2020
• £437,258 avg. price
• Covid recovery with a 3-year increase of 1% 

Bedroom sold prices (avg. over 9 months) 

• 2 Bedrooms: £340,000
• 3 Bedrooms: £393,000
• 4 Bedrooms: £578,000
• 5 Bedrooms: £964,000

Top five highest completions: (9 months) 

• The Laurels, De Beauvoir Chase - £1,450,000 - 16th Sept 2020 
• 84a Norsey Road - £1,295,000 - 27th Jan 2021 
• 28 The Grove - £1,225,000 - 28th Jan 2021 
• The Doves, Homestead Road - £1,150,000 
• 24 Norsey Close - £1,150,000 - 6th Nov 2020

Activity

• 24 sales per month (avg.)
• 77 properties for sale 
• 98 average days to sell 
• 31% stock turnover per month = a sellers market 
• Average price per SQ/FT: £405 

Area Information: 

• Crime rate: very low - 57 crimes per 1,000 residents in last year 
• Planning application success rate: 80% 

Whilst I cover other surrounding areas, my main focus is on CM11. Why is that? - I have lived in the area for 8 years and love the community feel. I keep an active eye on the house prices, not just for myself but for the broader neighbourhood, so to help my neighbours I will be updating this report every month and will publish on my website, share on social media, and upload to my YouTube channel. 

If you would like a detailed assessment of your homes value, feel free to book a valuation at a time that suits you.