The UK property market is driven by increasing population growth and the growing demand for further housing, underpinned by a strong economy. Many industry experts are predicting that future returns within property investment will be dictated by the strong supply and demand dynamics.
Already viewed as a fairly stable long-term investment, the stability of property prices is predicted to continue, further strengthening an already flourishing private rented sector; Buy-to-Let investors will continue to see higher yields from areas displaying the key components of growth potential.
These essential elements can be seen in the Essex town of Brentwood; a thriving town with a strong local economy, a multitude of amenities and convenient transport connections. As a result Brentwood’s population is on the rise with a projected increase of 5% from 2014 (74,900 residents) to 2035 (88,400 residents).
View property availability at Essex House in Brentwood here.
Dynamic Transport Links
Accessibility and connectivity have a major influence on an area’s ability to attract business and investment, and its future growth potential. Brentwood ranks in the top 40% of districts nationally on levels of connectivity to London, motorways and airports. As the City can be reached within 20 minutes from Brentwood via Shenfield, it is not surprising that a high proportion of local residents commute to London every day.
Brentwood is also located close to key road networks including the A12, the A127 and the London Orbital Motorway, the M25. According to the Brentwood Borough Local Profile report, at 12 minutes, the Brentwood Borough has the joint lowest average travel time by public transport or walking to reach key services.
The arrival of Crossrail in May 2017 to both Brentwood and neighbouring Shenfield will greatly enhance the economic viability and appeal of these commuter town hotspots for Buy-to-Let investors. Since Crossrail gained approval, JLL report that property prices around stations where the scheme is being introduced have risen up to 16% above the Greater London average. JLL predict that residential prices around Crossrail stations will see a 7% greater uplift than those at non-Crossrail stations. Towns in commuter belt areas such as Shenfield are estimated to see the highest growth at a rate of 38%, as the demand to live on the outskirts of London is set to rise.
Read more about Brentwood's transport connections here.
Commercial Growth and Employment
According to Brentwood Economic Futures, a report commissioned by Brentwood Borough Council, the area has recorded strong levels of job growth over the last 17 years at 30% and employment growth in Brentwood has been driven by sectors such as residential care, social work, business services, education, healthcare and construction.
Brentwood boasts a wide and varied distribution of industrial and commercial estates, a bustling town centre, a large shopping centre close to the station and a major concentration of offices. The Brentwood Borough Local Profile reports unemployment is lower than average in Brentwood (at 3.8%), compared to that of both Essex and the UK averages (6.4% and 7.2% respectively). With a prosperous local economy and strong links to the capital and neighbouring counties such as Hertfordshire, this town provides a convenient yet, welcoming home for residents, and a prime rental market for Buy-to-Let investors.
Read more about the growth potential of Brentwood here.