With an influx in restaurants, shops and eateries in Chelmsford, will house prices and the market be affected?
Essex is booming with an increase in restaurants and eateries this past year. The development of the £3 million piazza, The Exchange, including Turtle Bay, Carluccio’s and Bourgee, brought in more than 400 jobs and a steady influx of people visiting Chelmsford.
The £150 million Bond Street complex has also bought new restaurants to the city, including Byron Burger, Ask Italian and Las Iguanas. As well as a state of the art John Lewis and a variety of other high end shops, including Jack Wills, The White Company and Cath Kidston.
So, if you live in Essex with new restaurants and shops practically on your doorstep, it’s time to start thinking about how you can invest in your property.
Martin Gibbon, Balgores Estate Agents in Essex, said: “The Chelmsford housing market is doing extremely well, both selling and buying, and it’s only going to get better.
“House prices are on the rise and it’s because of the amazing shops, restaurants and facilities that are being brought to Chelmsford.
“Chelmsford is a very sought after area and it’s easy to see why.”
Experts predict that Chelmsford will be one the country’s top 50 shopping destinations this year. With the impending arrival of Crossrail at Shenfield, just a short journey away, it’s easy to see why people want to move to Chelmsford. With a new and improved train station in the city centre, shopping complex and plans for a new boutique cinema – will this be the key to a successful property market in Chelmsford?
Essex’s estate agents have not seen a dip in the market despite the Brexit vote, and stores like John Lewis coming to Chelmsford can only increase the price values of homes in and around the city. Since Brexit, properties on the market have sold within 24 to 48 hours, which isn’t surprising as Essex strongly voted out.
More than 1,000 jobs are expected to be created over the next year by new developments in Chelmsford, alongside up to 14,000 more homes being built in the next 20 years. Beaulieu Park’s expansion is also in its final stages, with a new railway station, schools and homes being built in the £1 billion complex.