Essex in 2025: What’s Next for the Local Property Market?

The UK property market showed signs of recovery in 2024, with annual house price growth averaging 1.9%. This marked a significant turnaround from 2023, which saw a decline of -1.2% in house prices amid challenging economic conditions and cautious buyer activity.

In Essex, including Chelmsford, the market mirrored this positive trend, with average property prices increasing modestly by 1.4%, resulting in an overall growth of just 0.2% locally over 2024.

The year saw heightened activity, driven by stabilised mortgage rates and renewed buyer confidence. However, affordability pressures kept price growth in check, with properties in the region often selling slightly below their asking prices.

Looking at the year ahead in 2025, modest growth is expected to continue, with a predicted national house price inflation of 2.5% and the number of home moves anticipated to rise by 5%. For Essex, this could translate into steady demand in desirable areas like Chelmsford, bolstered by strong transport links and amenities.

While the market is stabilising, affordability challenges remain a key factor, particularly for first-time buyers. Sellers in Essex may need to price competitively to attract interest, while buyers could benefit from the market’s current balance of supply and demand.

See our useful article detailing coming changes to Stamp Duty Land Tax *here*

Engaging with a trusted local agent will help navigate these trends and help make informed decisions in 2025’s dynamic housing market.

 

Data sources – Zoopla
Kate is a skilled Negotiator, working for several years in the local property market helping both buyers and sellers alike. She is friendly, enthusiastic and always looking to help, with paramount customer service at the heart of everything she does.