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Basildon Buy-to-Let Guide

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    Everything You Need to Know About Basildon Buy-to-Let

    Basildon is a commercial town in the South East, close to London for commuters but far enough away to avoid the capital’s enormous house prices… sort of.

    So, is Basildon worth considering for an investment property?

    This guide covers Basildon’s property prices and rental market, looking at the region’s yields and capital growth potential. These are the key factors to consider when considering buy-to-let properties in the UK.

    We’ll also see how Basildon stacks up against the rest of the country and if you can find a better buy-to-let opportunity elsewhere.

    If you’d like to know more, check out the guide below.

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      Basildon on map

      Buy-to-Let Property Prices in Basildon

      The initial costs of buy-to-let can be off-putting, so finding a good deal on the property is critical. The southern parts of England are not often known for good-value property prices.

      Basildon is no exception.

      The HM Land Registry UK House Price Index states the average Basildon property price is £369,597.

      If we look at those prices in greater detail, buy-to-let investors will spend the following averages on different property types:

      Detached: £686,846
      Semi-detached: £420,881
      Terraced: £318,975
      Flats: £237,586

      In the last year, Basildon prices have fallen by 1.5%.

      Looking ahead, Savills predicts a capital growth of 16.7% by 2028 for the South East. However, the expected capital growth for the country is 17.9%, making the South East less promising than other regions.

      Speaking of which – the national average property price is £291,044 per the HM Land Registry. As such, Basildon is 23.7% more expensive for buy-to-let investors.

      However, the average property price in the South East is £393,417, making Basildon slightly less expensive than the region. It’s also more affordable than the average London investment property or a Birmingham investment property.

      According to Rightmove, terraced properties have been Basildon’s most popular property type over the last 12 months.

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      Basildon shopping area

      Buy-to-Let Rental Market in Basildon

      With high property prices and a strong economy, Basildon predictably commands a high average rent.

      According to Home’s Basildon Rental Market Summary, the average tenancy in Basildon costs £1,469 PCM.

      The Homelet Rental Index shows the national average rent to be £1,276 PCM. There is a 14% difference between both rents.

      In addition, the Rental Market Summary shows that, on average, a room will cost £802 PCM. Flats cost £1,234 PCM. Houses cost a substantial £1,743 PCM.

      Over the last year, rents have increased by 9.86% in the South East – the region’s average rent is £1,359 PCM. As such, Basildon is just over 7% more expensive than the South East to rent a property.

      To find the best property investment deals, it’s worth looking at an area’s average rental yields. Taking the average rent and property price, Basildon has an average rental yield of 4.76%. This is lower than the national average of around 5.2% and higher than the South East average yield of 4.14%.

      The closest university is the University of Essex, but Basildon isn’t close enough to be considered for student accommodation investment.

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      Basildon street view

      Buy-to-Let Investment in Basildon: Area Breakdown

      Central Basildon

      In Basildon town centre, buy-to-let landlords have a choice of flats or terraced houses predominantly, although you can find semi-detached and detached homes as well. Fryerns is a suburb that is close to amenities and Basildon train station. Compared to other parts of Basildon, you can find good value properties in the town centre.

      Average Property Price in Central Basildon

      The average property price in SS14 is £319,369.

      Average Rental Yield in Central Basildon

      The average yield here is 6.10%.

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        Basildon architecture

        North Basildon

        Billericay and Wickford are two separate towns within the borough. They are on the other side of the A127 and have good schools, amenities and train stations.

        Properties are more expensive than Basildon’s average in this borough.

        If you head further northwest, you’ll reach the town of Brentwood, where average property prices exceed £500,000.

        Average Property Price in North Basildon

        Average property prices in Wickford and SS12 are £399,235.

        Average Rental Yield in North Basildon

        The average rental yield north of Basildon is 3.61%.

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        Basildon Aerial View

        West Basildon

        Areas to the west of Basildon include:

        • Dunton
        • Laindon
        • Langdon Hills
        • Lee Chapel
        • Southfields

        These areas have good transport links into Basildon and the M25. Laindon has a train station with direct service to London. With plenty of local amenities, these areas are popular with buyers and tenants.

        Average Property Price in West Basildon

        The average property price in SS15 is £339,806.

        Average Rental Yield in West Basildon

        The average rental yield in SS15 is 4.35%.

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          Basildon power station

          South and East Basildon

          If you go south from the town centre, Pitsea and Vange are two villages in the borough of Basildon. They offer good access to the A13. Meanwhile, Pitsea train stations allow access to other parts of the region.

          East of Basildon, you can find:

          • Bowers Gifford
          • North Benfleet
          • South Benfleet

          These areas offer an easy commute into Basildon and Southend-on-Sea, making them popular with people who work in both towns.

          Average Property Price in South and East Basildon

          The average property price in SS13 is £303,377.

          Average Rental Yield in South and East Basildon

          The average yield in this area is 5.63%.

          Wat Tyler country park sign, Basildon, Essex, UK.

          Why You Should Consider a Buy-to-Let Investment in Basildon

          Good Commercial and Industrial Opportunities

          Basildon has a significant commercial and industrial presence in the southeast. As such, the local economy is responsible for many jobs, bringing employees who’ll need new homes in the area.

          Some popular sectors in the area are the automotive, defence, innovation, aerospace and R&D industries.

          Basildon is home to numerous companies, including:

          • Ford
          • New Holland Agriculture
          • MIRA
          • Costa
          • DST Financial Services/SS&C

          In addition, London Gateway Port, south of Basildon, provides local employment opportunities. The area falls within the Thames Freeport Zone, which has the potential to become a vast commercial area that will serve the local economy and boost the Basildon property market.

          Regeneration Prospects

          Basildon’s town centre is amid the Basildon Masterplan, a scheme which intends to make the area a better place to live and – for landlords – invest in property.

          The plan is responsible for a new leisure centre and college campus. Future regenerative efforts include building a new area, developing city living properties, and boosting the residential sector in the town centre.

          Transport Links

          Basildon benefits from being close to London and enjoying the economic perks such proximity provides.

          The town connects to London and the South East by road and rail. Basildon is close to the M25 London Orbital Motorway and well-located to reach other notable cities in Essex like Southend-on-Sea and Chelmsford.

          Commuters can reach London within 40 minutes via trains from Basildon, Laindon and Pitsea. Southend Airport is only 11 miles away.

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          Basildon New-Builds

          Basildon is forecast to undergo an increase in population, so the demand for new-build properties is likely to skyrocket in the coming years. In order to increase housing choices in the area, the local council has been concentrating on regeneration areas with the Basildon Council Housing Strategy.

          While there may not be much choice for new builds in Basildon, it may be worth looking at Essex as a whole. Chelmsford new-builds are one option, but note that the area is generally expensive for property, and new-builds typically come at a premium price.

          For investors willing to look further afield, more diverse new-build investment opportunities may be found in larger cities. New-build developments are more common in major cities, and more affordable properties can be found up North.

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            Off-Plan Property in Basildon

            As mentioned, new builds in the Basildon area tend to be on the pricier side. As property investment trends shift towards new build developments, off-plan has emerged as a way for investors to get a better deal on new builds.

            With off-plan investment, investors can benefit from discounts and flexible payment plans by investing earlier in the development process (usually the planning or construction stage).

            However, as it stands now, off-plan opportunities are typically found in major cities such as London, Manchester, and Liverpool. So, finding a range of options for off-plan property investment in Basildon may be difficult.

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              How Does Basildon Compare to Other UK Regions When It Comes to Buy-to-Let?

              As discussed, Basildon offers meagre rental yields and property prices that exceed the national average. For those interested in London commuter towns, it could be worth exploring other locations, such as properties in Luton.

              While the proximity to London provides good business opportunities for the area, investors should cast their eye to other parts of the UK with better value properties and more lucrative yields.

              The North West is known as a buy-to-let hotspot and an area to watch when it comes to buying rental property. Cities like Liverpool and Manchester have below-average house prices and some of the best yields in the country.

              They also have good business opportunities, helping regenerate the local property markets. For instance, when MediaCityUK was set up in Salford, the area that experienced the highest property price growth in the entire country, it proved you didn’t need to be close to London for top employment opportunities. To learn more about Manchester’s exciting property scene, take a look at our Manchester Property Report.

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                Want to Invest in Basildon in 2024?

                Basildon has appeal as a place to live thanks to excellent transport links and surrounding countryside. However, as a location for buy-to-let property investment, it seems that other regions can offer a better deal.

                To find out more about other UK buy-to-let hotspots, take a look at some of our latest property investment area guides:

                Map of Basildon

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                Author

                Dale Barham

                Dale is a property content writer at RWinvest. Keeping a close eye on the UK property market, Dale helps our readers stay informed and up to date on the latest market news and statistics.

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