Defying all odds, post-lockdown activity in the property market is soaring beyond expectations. With a combination of pent-up demand, low interest rates and a stamp duty holiday, property sales are going strong with buyers still entering the market even in a traditionally quiet autumn. The average price of a UK property now stands at £218,262 according to Zoopla. However, Essex is one of the highest value areas of the country and the average property here will set you back £367,000. Since the turn of the century, property prices have increased in the county by as much as 200%, however, there is a tremendous variation in the value of different postcode areas.
As one of the most prestigious locations in Essex, Loughton ranks in the top ten of the most expensive areas of the county to live in. Its postcode area of IG10 comes in at sixth place, with the average Loughton property costing £574,735. Completing the top ten are Ingatestone, Margaretting and Stock in the top position where the average home is £745,808. This area is followed by Chigwell in second place, Woodford in third, Buckhurst Hill in fourth then Hutton and Horndon sitting just slightly above Loughton in fifth position. Slightly cheaper than IG10 are Ongar in seventh place, Brentwood in eighth, Billericay in ninth and Dunmow in tenth. Whilst these are the most expensive areas of Essex, the county really does offer extremes in terms of affordability as the cheapest average properties can be snapped up in Clacton-on-Sea for around the £200,000 mark.
Loughton has long been a firm favourite with Essex locals who have loved the combination of rural living, alongside proximity to the capital as and when required. It is perhaps this perfect blend which will ensure the area continues to thrive during the pandemic. Londoners who are switching more to a homeworking situation will love the balance of migrating out to Loughton in Essex, yet still having the convenience of the Central line on their doorstep when required. For those who don’t wish to take public transport, local estate agents in Loughton reveal that the town also offers easy access to both the M11 and M25 with links to Cambridge and Stansted Airport when needed.
Yet, Loughton is far more than an accessible commuter town. It also offers plenty for the strong community of locals who simply love living here. The high street is packed full of independent shops, boutiques and cafes which are being thoroughly supported by residents in the area. It’s an incredibly family-friendly area too, which is evident in the quality of schools on offer in IG10. Hereward Primary School is deemed to be ‘outstanding’ following its Ofsted inspection. Further ‘good’ primaries are located at Staples Road or Alderton Infants & Juniors as well as White Bridge Infants, Thomas Willingale and High Beech Church of England. For those with older children, your ‘outstanding’ secondary school option is available at the Davenant Foundation School, whilst Roding Valley High and Debden Park High are considered to be ‘good’ also.
If you’re interested in moving to Loughton as one of the highest value areas in Essex, then now is a great time to do so. Purchasing an average property here before 31st March, 2021 will allow you to save £15,000 in stamp duty tax – what a great incentive to check out IG10!