Bearing this in mind, last week, a couple from Dunmow popped into our offices to ask about investing in property. Their concern was if we have another property slump (and we will because that is what has happened to the British property market ever since the 1950's), if they did need to sell, what type of property would be easier to sell. Now, everything sells, even during a slump, but I did some research and followed up their query . I was actually quite surprised by the results.
A good guide to judge the saleability of property is the number of properties for sale, compared with the number sold subject to contract.
I carried out this comparison last week, so the numbers will be marginally different today, but of the 44,183 households in Chelmsford there are 1,660 properties on the market for sale. Of those 1,660 properties, 647 properties are fully available on the open market waiting for a buyer and 1013 have buyers and are sold subject to contract. That means 31% of property on the market has a buyer in Chelmsford (interestingly in Braintree 55% of properties on the market have a buyer and in Witham 57%).
Feel free too contact me today with any questions.