Average Colchester property values rise by £233 per week

Over the last 12 months in Colchester average property values have risen from £246,000 to £257,600 a rise of £11,600 or £223 per week. When I looked at some of the surrounding areas, Ipswich has had a slightly lower than average increase in property values, at around £192 per week (as the average value of a Ipswich property has risen from £207,400 to £217,400) , whilst Clacton-on-Sea has had a slightly lower rise of around £113 per week (taking an average property in Clacton-on-Sea from £169,000 to £174,900). 

For more news on the Colchester property market contact More Estate Agents in Colchester on 01206 767673

Average Colchester two bedroom property takes 92 days to sell

The length of time a property takes to sell on average has increased over the last few months.

The market is showing a slow down leading up to the upcoming election.

Two bedroom properties in Colchester are now taking on average 92 days to sell, three bedroom 72 days, four bedrooms 92 days, but here an interesting figure, one beds are taking on average 114 days to find a buyer.

 

For information on how to beat the averages contact your local Colchester Estate Agents on 01206 767673.

Is there real money to be made in buy-to-let?

This is a great question that we get asked all the time. In short the answer is YES.

A well researched dive into the property market can provide reasonable returns for the savvy investor.

At More Estate Agents in Colchester we get asked all the time what properties investors should buy to get the best returns. We are always happy to provide unbiased advice on any property an investor is looking to buy.

Successfully investing requires good research, timing and good property selection. It helps if you have a plan and stick to it, do not be drawn by personal emotions, remember it is a business.

You need to decided whether you are investing for short term gain i.e. profit from the rental or whether it is the long term capital gain you are looking for. In some cases you may be able to benefit from both.

Generally, most investors will be looking for yields upwards of 5%. In most cases the best returns are made over a number of years, it really should be a 5+ year plan, with 10-15+ years providing the best capital gains.

Check out our full article - Is there real money to be made in buy-to-let? for more information on this subject.

Essex Landlords Investment Show - 5th March 2015

More Estate Agents in Colchester are attending the Essex Landlords Investment Show on the 5th March 2015.

The show is being held at the Colchester Community Stadium (Colchester United Football Club), United Way, Colchester, CO4 5UP.

Show time - 10am - 4 pm

Come and meet our team and discuss all things property related (buy to let).

The show is all about connecting Landlords, Investors, Developers & Property Professionals with industry leaders and suppliers who can help with all aspects of buy-to-let.

Over 40+ companies will be exhibiting on the day, seminars will be delivered by leading industry experts.

Exhibitors include:

• Legal Services
• Buy-to-let mortgages
• Landlord Insurance
• Referencing
• Letting Agents
• Online Agents
• Property Management
• Local Council
• Tenancy Deposit Scheme
• Landlord Tax Advice
• Landlord Associations
• Buy to let opportunities
• Local Tradesman

Unexpected Stamp Duty reform

Unexpected Stamp Duty Reform

The chancellor’s autumn statement included a surprise reform of the stamp duty system. From midnight anyone buying a property in the UK will face a new set of rules.

The original structure has been scrapped and from midnight (3rd December 2014) the tax will be applied like income tax.

There will still be no tax on purchases up to £125,000.


Above that there will be several bands:

• Between £125,001 and £250,000 the rate will be 2%

• Between £250,001 and £925,000 the rate will be 5%

• Between £925,001 and £1.5m the rate will be 10%

• Above £1.5m the rate will be 12%.


On a £180,000 house purchase there will be no tax to pay on the first £125,000, then 2% on the remaining £55,000, which is a total bill of £1,100, versus £1,800 before the changes.

On a £300,000 house purchase there would be no tax to pay on the first £125,000, then 2% on the next £125,000 (£2,500) and 5% on the last £50,000 (£2,500). That’s a total £5,000 compared with £9,000 under the previous system.

This is good news for anyone buying a house that costs less than £937,000, which represents 98% of households. Anyone spending more will face a higher

bill.

In my opinion this will benefit a huge amount of people looking to buy in Colchester, Clacton, Harwich, Braintree and Chelmsford.

Read :- Stamp duty reform

If you require further information contact More Estate Agents in Colchester on 01206 767673.

The month do far

The Month so far

We have been busy updating our website with local information on the areas we have branches in. It is always a time consuming process writing good content but we truly believe it will help people to make the right decision to move to the areas we operate in.

We love where we work and want to shout about it.

Heres a few photos we have taken:-


If you have any local pictures you would like to share with us get in touch, we would love to see them.

We have offices that are situated at the following locations:

More Estate Agent in Colchester

More Estate Agents in Clacton

More Estate Agents in Braintree

More Estate Agents in Chelmsford

More Estate Agents in Dovercourt

If you have any lifestyle photos we are interested to see them.
We will be running competitions thoughout 2015 for the best

pictures sent in.

If you know anyone who has a property for sale or a property to let get in contact we have a constent demand for all types of properties in the local area.

Don't forget we want your local comunity photos.

Raise money for your local sports club

Would you like to raise money for your local sports club?

Here at More Estate Agents in Colchester we are committed to helping local sports teams.

So if you know someone who is thinking of selling or letting their property why not refer them to More Estate Agents in Colchester and earn your club £200. The great thing is you can do this as many times as you like. 

To find out more go to :- Raise money for your local sports club