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Auction Properties in Essex, England
Buying auction properties in Essex, England
For those priced out of the capital and more fashionable areas in the south-east of England, buying auction properties in Essex has become a more affordable choice. Despite the stereotypical image of the county, it has more to offer than you might expect. From the Thames estuary to ‘Constable County’, Essex is above all a county of contrasts. It includes traditional English seaside resorts, picturesque villages as well as large towns and cities with industrial parks and modern shopping centres. This variety helps to explain why people of all ages and from different walks of life are buying auction properties in Essex.
Property prices in Essex
The average price of property in Essex is £360,000 for a semi-detached house and £199,000 for a flat while terraced houses cost around £288,000. However, this varies greatly across the county and depends on a number of factors. One is the proximity to the capital so an area like Brentwood is significantly higher with a house costing an average of £480,000 and a flat £260,000. Another factor is how fashionable an area is so you can buy a house in a less sought-after town like Harlow for an average of £250,000.
Where should I look for auction properties in Essex?
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Your choice of where to buy an auction property in Essex will depend on your own personal preferences, family circumstances as well as your budget. The housing stock in the towns and cities of Essex is the usual mix of post-war semi-detached houses, terraced houses, Georgian and Victorian townhouses or villas. In the rural parts of Essex, you will also be able to find timber-beamed farmhouses (dating back to Medieval times), traditional country cottages (with thatched or peg tiles roofs) and timber or brick barn conversions. These types of houses rarely come onto the market, so they tend to attract a lot of interest from developers, investors and those looking for something different.
Recommended places to look for houses sold for auction include:
The UK’s oldest town (founded by the Romans in 79AD), Colchester is located on the border with Suffolk and in the heart of the countryside. Its location is the reason why it is one of the most expensive cities in Essex to purchase property with houses costing £325,000-£380,000 depending on their size. Its suburbs of Springfield and Broomfield have cheaper prices than nearer the centre (£220,000-£250,000). Despite one of the longest commutes in the county (about 50 minutes to London), Colchester is especially popular with families who enjoy the range of outdoor and entertainment facilities on offer as well as the high standard of schools in the city (both state and private).
Voted as one of the best places to live by the ‘Sunday Times’ (2018), Chelmsford is the UK’s newest city (awarded city status by the Queen in 2012). With a 35-minute commute by train and all the entertainment and retail facilities of a modern city, Chelmsford also has a great deal of greenery including Hylands Park. For these reasons, it is a city which appeals to all ages. Property in the city ranges from large detached townhouses to small bedsits. The average price of property there is £390,000. However, one-bedroomed houses can be purchased from £220,000.
Basildon is one of the most affordable towns for those who work in the capital but who have been priced out of the housing market there. The average price of property in Basildon is £290,000 for a semi-detached house, £180,000 for a flat and £755,000 for a larger detached house. As one of the designated new towns built in the post-war period, the vast majority of its houses are relatively new and are predominantly semi-detached houses on housing estates, many ex-council homes.
With more and more people choosing foreign holidays, Southend has gone out of fashion over the past 30 years. This works in favour of the home buyer, however, since it means that homes in the area are greatly undervalued. You could pick up property sold for auction in Southend for as little as £200,000-£240,000. Most homes in the centre of the seaside resort are terraced houses or Victorian townhouses, some of which have been neglected. Buying an auction property here is particularly recommended for anyone who wants to renovate a property – either for their own personal use or for investment purposes.
Located at the head of the River Stour, Manningtree was voted the 7th best place to live in the east of England by the ‘Sunday Times’ (2019). It has the beauty of Suffolk (close to the Dedham Vale, an Area of Outstanding Natural Beauty) but with more affordable Essex house prices. For those who wish to enjoy the facilities of a big city, Colchester is only 8 miles away. A house in Manningtree can be purchased for under £200,000 although it might need some renovation work. This is also the place to look if you are after unusual property types such as barn conversions or traditional thatched cottages.
Auction Properties in Essex FAQ
How can I find auction properties in Essex?
Property auctions in Essex are sometimes advertised in the local press. Because of its close proximity to the capital, London-based auction property websites are another way to find out about houses put up for auction. Use the site’s search tool to limit your search to Essex.
How much are auction properties in Essex?
Property prices in Essex range from £200,000-£750,000 depending on their location, age, condition and type of property. There are usually a wide variety of properties available for sale at property auctions in Essex.
Which areas are best to find auction properties in Essex?
The best places to look for an auction property in Essex are Colchester, Chelmsford, Basildon, Brentwood and Harlow, however be open minded as many rural properties for sale in Essex also appear at local property auctions.
Can I buy repossessed properties at auction in Essex?
Yes, repossessed property in Essex often appears at local property auctions.. The listing will mention if the property has been repossessed. Before putting in a bid for a repossessed property, ensure that a thorough survey and a legal search is done.
What kind of auction properties in Essex are available?
Apart from a wide variety of housing stock, properties put up for auction in Essex include those for commercial, mixed-use and industrial purposes. For anyone interested in buying a property at auction, we recommend the following types:
Industrial properties in Essex
Fully-equipped industrial properties can be purchased in Essex starting from £200,000-£300,000 for a smaller workshop to larger factory space starting at £500,000. The areas to look for industrial auction properties include the area of Brentwood and Basildon. Together they contribute the most money to the Thames Gateway economy (second only to Canary Wharf) and enjoy easy communication links to the capital as well as a large local workforce. New towns like Harlow are a cheaper alternative. It has recently invested money into an Enterprise Zone with the hope of drawing businesses away from Cambridge in high-tech industries like ICT.
Investment properties in Essex
As rents increase across the whole of the south and south-east of England, many people are looking for property to rent in less fashionable Essex. This makes the place ideal for investors who are interested in the buy-to-let market. Urban areas like Basildon, Brentwood and Dagenham are the best places to look with a predicted rent yield of up to 25%. Holiday homes or B and Bs can be purchased in Southend, Clacton or Frinton from £200,000 and can be used for short holiday lets.
Rural properties in Essex
Despite being the most densely populated area in the east of England (accounting for a quarter of its population), 75% of Essex is designated as rural areas. If you are interested in finding a rural auction property within easy commuting distance of the capital, Essex is the place for you. The borough of Thurrock is one of the cheapest places (average property price of £236,000) but it includes picturesque villages like Purfleet. Other villages or small market towns worth looking at include Saffron Waldon, Castle Hedingham and Dedham although they tend to be more expensive. The average price of property in Dedham, for example, is £630,000.
5 reasons to buy auction properties in Essex
1. The varied landscapes of Essex
From seaside resorts to traditional English villages and from cosmopolitan cities to bustling market towns, Essex appeals to all ages because of the variety of its landscapes. Covering a relatively compact area of 1,300 square miles, it is very easy to get up and go as the mood takes you.
2. Good communication networks in Essex
As well as the M25, the A12 and A13 both go through Essex, so road journeys are relatively quick. By train, London is only 30-50 minutes away, so the capital is easily accessible while towns like Dagenham also have tube stations. Whether you need to travel for work or pleasure, travelling in Essex is easy.
3. Entertainment in Essex
Whether you are interested in sport or nightlife, Essex has some of the best facilities outside the capital. From team games to water sports, the county has much to offer. Some of the best nightclubs and bars can be found in places like Brentwood, Romford and Chelmsford.
4. The attractions of Essex
If you want to go on a day trip, there are plenty of places to visit in Essex. Apart from the Sea Life Adventure Aquarium and beach in Southend, Essex also has many Roman ruins and Norman castles. For lovers of the outdoors, there are over 80 nature reserves and two nature parks including meadows, woodlands and wetlands.
5. Shopping facilities in Essex
Essex has some of the best retail outlets outside the capital. Apart from Lakeside Shopping Centre (in Thurrock), most towns hold weekly markets where you pick up anything from fresh produce to second-hand goods. For something different, visit the independent shops in villages like Braintree.
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Conclusion about Essex property auctions
Buying auction properties in Essex is the best option for property buyers who can’t afford properties in the commuter belt to the south and west of London. Apart from plentiful employment opportunities in the capital, Essex is home to 50,000 businesses which employ 500,000 people. With London salaries and affordable housing, you can enjoy a good standard of living in Essex. As for the range of indoor and outdoor recreational activities, few other English countries offer as much as Essex.