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Southend-on-Sea Buy-to-Let Guide

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    Southend-on-Sea: The Next Buy-to-Let Hotspot?

    Welcome to our comprehensive Southend-on-Sea buy-to-let guide – your resource for navigating the world of buy-to-let property investments in this vibrant coastal town.

    Situated along the scenic shores of the Thames Estuary, Southend-on-Sea is a charming blend of seaside charm and urban convenience, making it a prime destination for investors and renters alike.

    In this guide, we will dive into key aspects of the Southend-on-Sea property market, providing invaluable insights to help you make informed decisions and maximise your potential returns. From understanding the local rental market trends to deciphering the current UK housing market, we’ve got you covered.

    Discover the neighbourhoods that offer the most promising investment opportunities, whether you’re seeking high rental yields, strong capital growth potential, or a combination of both.

    Explore the factors influencing rental demand, such as proximity to transport links, educational institutions, entertainment hubs, and the stunning seafront that defines Southend’s character.

    Whether you’re a seasoned investor looking to expand your portfolio or a first-time landlord seeking a solid foothold in the market, the Southend-on-Sea buy-to-let guide is your indispensable companion. 

    Join us as we unravel the opportunities and challenges of property investment in this dynamic coastal town. Check out the full guide below!

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      Southend-on-sea pleasure pier

      Buy-to-Let Property Prices in Southend-on-Sea

      According to Zoopla, the average house price in Southend-on-Sea over the last 12 months stands at £350,824.

      In comparison, the UK average price is £261,500 over the last 12 months. As such, Southend-on-Sea is 34.15% more expensive than the national average.

      Rightmove’s analysis of the Southend-on-Sea market shows that most property types sold were flats, followed by terraced properties and semi-detached homes. In addition, Rightmove also states that Southend-on-Sea house prices were up 6% on the previous year. They are also 12% up on the £320,121 2020 peak.

      For a look at the rest of the country, be sure to read our UK House Price Overview.

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      Southend-on-Sea, Essex / UK - JUN 02 2019: colourfulattractions at the beach between buildings

      Buy-to-Let Rental Market in Southend-on-Sea

      LiveYield statistics put average Southend-on-Sea rental yields at 4.33%.

      According to Home, the average monthly rent for properties in this area is £1,762 PCM. This figure is substantially higher than the national average rental costs, which stand at £1,213 PCM per the Homelet Rental Index.

      In addition, the South East region has experienced 9.60% rental growth over the last 12 months, 1.70% below the national figure.

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      Buy-to-Let Investment in Southend-on-Sea: Area Breakdown

      Before investing in the Southend-on-Sea buy-to-let market, prospective landlords should research different buy-to-let areas within this Essex city to ensure their new property aligns with their investment strategy and maximise their chances for capital growth.

      Southend-on-Sea presents a diverse array of property options, ranging from traditional terraced houses and flats to suburban neighbourhoods made up of detached and semi-detached houses, as well as bungalows dating back to the 1920s up to the present. 

      The housing landscape also features numerous new constructions that have been completed or are in the planning stages. 

      While certain parts of the city experience economic challenges, these areas often feature more affordable properties, making them appealing to budget-conscious buy-to-let and HMO landlords. 

      Conversely, Southend boasts charming residential areas where property prices exceed the local average. Localities with convenient access to amenities, quality schools, and proximity to the sea and beaches are particularly sought after, commanding premium rental rates.

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        Southend pier railway

        Central Southend-on-Sea

        Central Southend offers a mixed area with plenty of commercial, residential and retail opportunities. This part of Southend offers flats and terraced homes. Some of Southend’s cheapest properties are located in this area.

        This area includes the Westcliff-on-Sea suburb known for Westcliff Beach and the Southend Cliff Gardens.

        Average Property Prices in Central Southend-on-Sea

        In the past year, the average price for properties for SS0 stood at 352,055. Most sales were flats, which sold for £235,332. 

        On the other hand, terraced properties sold for £362,436, with semi-detached properties seeing prices as high as £469,520. 

        These figures represent a 3% upturn over the previous year and are 12% higher than the 2020 peak.

        Note: All figures sourced from Rightmove.

        Average Rental Yields in Central Southend-on-Sea

        According to LiveYield, the SS0 postcode offers rental yields of 3.6%.

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        North Southend-on-Sea

        Northern Southend includes notable areas such as Prittlewell, the original village shaping Southend’s growth. Moving outward, the distinct small town of Rochford boasts independent amenities and serves as a popular residential hub. Further along lies Hockley, positioned to the north, with its rural surroundings and a dedicated railway station, rendering it a favoured choice among commuters.

        The northern vicinities of Southend have their own train stations, such as Prittlewell, Southend Airport, and Rochford. This sector accommodates Southend Airport, Southend University Hospital, and several business parks, collectively increasing the demand for rental properties in the region. Read more about the latest London property market trends with our free guide.

        Average Property Prices in North Southend-on-Sea

        In the past year, the average price for properties in the SS2 area reached £302,620. Within this locale, flats constituted the majority of sales, commanding an average price of £189,284. Semi-detached properties secured an average price of £382,373, while terraced properties achieved a notable £304,003.

        Rightmove states that overall sold property prices in SS2 increased by 7% compared to those seen in the previous year, with an even more substantial overall rise of 13% compared to the peak figure of £268,309 in 2020.

        Average Rental Yields in North Southend-on-Sea

        According to LiveYield, northern postcodes in Southend, such as SS2, have a rental yield of 5.5%, while the area also includes the SS0 postcode. As aforementioned, this part of Southend offers rental yields of 3.6%.

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          East Southend-on-Sea

          Eastern localities in the Southend area include North Shoebury, Shoeburyness, Southchurch, and Thorpe Bay. These regions enjoy convenient connectivity to Southend and boast their own railway stations along the London-bound train line. Predominantly residential, these areas offer easy access to beaches, the coastline, and the surrounding countryside.

          Thorpe Bay stands out as a highly coveted residential area within Southend, featuring period houses that command prices significantly higher than the local average. Shoeburyness, on the other hand, offers a good value housing market. Further along, the village of Great Wakering is a favoured Southend commuter area.

          Average Property Prices in East Southend-on-Sea

          In the preceding year, the average price for properties within the SS1 vicinity stood at £420,505. Notably, flats comprised the majority of sales in SS1 during this period, garnering an average price of £224,521. Meanwhile, detached properties achieved a substantial average of £799,527, and terraced properties fetched a commendable £391,489.

          From a comprehensive perspective, the sold property prices in SS1 exhibited a noteworthy 9% increase on the previous year, with an even more remarkable 15% surge compared to the 2020 peak figure of £367,252.

          In comparison, properties within the SS3 area commanded an average price of £369,974. The dominant property types during this period were terraced houses, which achieved an average price of £326,848. Semi-detached properties followed closely, attaining an average of £372,424, while flats secured £223,023 on average.

          According to analysis from Rightmove, property prices in SS3 showed a notable 5% increase compared to the preceding year and an even more substantial 9% escalation when contrasted with the peak figure of £338,062 recorded in 2019.

          Average Rental Yields in East Southend-on-Sea

          LiveYield puts average rental yields in SS1 at 4.7%.

          Property XYZ puts SS3 rental yields at 4%.

          The historic Cliff Lift on the seafront in Southend-on-Sea, Essex, UK.

          West Southend-on-Sea

          Towards the west of Southend, you’ll find Chalkwell, Daws Heath, Hadleigh, Eastwood, Leigh-on-Sea, and Westcliff-on-Sea. These localities boast their own distinct amenities, railway connections, and well-connected roads, such as the A130, A127, and A13, facilitating easy access to other parts of Essex. Westcliff-on-Sea presents pockets of value, offering affordable housing options. Notably, Leigh-on-Sea exudes a “trendy and fashionable” atmosphere, earning the moniker ‘Shoreditch of Essex’.

          Extending further westward, you can find the towns of South Benfleet and Rayleigh. Both towns remain within the Southend commuter sphere, complete with amenities and efficient road and rail links, catering to commuters beyond the immediate area. Of particular note, Rayleigh exhibits a more exclusive property landscape than Southend, with an average house price of £444,009.

          Average Property Prices in West Southend-on-Sea

          Rightmove puts the average price for properties within the SS9 area at £465,665 over the past year. During this period, the prevailing trend in SS9 sales centred on semi-detached properties, achieving an average price of £498,715. Flats transacted at an average of £263,876, while terraced properties achieved a noteworthy £457,940.

          Property prices in SS9 saw a significant 5% over the last 12 months, with the market seeing an overall 18% surge following the 2020 peak figure of £394,426.

          Meanwhile, properties within the SS7 region saw prices average at £424,006. Prices in this region, again, saw a 5% increase on the year but comparatively saw just a 13% surge on its 2020 peak figure (£376,310). Semi-detached properties saw the most attention, with average prices rising to £400,256. Detached properties followed suit, fetching an average of £576,926, while flats and maisonette properties garnered an average of £215,385.

          Average Rental Yields in West Southend-on-Sea

          According to LiveYield, the average rental yield for SS9 is 3.5%, with some parts of western Southend falling under the SS0 postcode, which boasts a 3.6% rental yield. Meanwhile, the SS7 postcode offers rental yields of 3%, as per Property XYZ.

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            Why You Should Consider a Buy-to-Let Investment in Southend-on-Sea

            Situated in Essex, Southend on Sea, often referred to simply as Southend, rests along the coastline where the River Thames converges with the North Sea. 

            Positioned approximately 40 miles from London, this town was bestowed with city status in 2021, a tribute to its former MP, Sir David Amess, who ardently advocated for the city designation. 

            This elevated status can enhance Southend-on-Sea’s prominence, potentially contributing to economic growth and influencing a positive trajectory in the local buy-to-let market.

            Seaside Tourism and Other Commercial Ventures

            Southend is a coastal resort that heavily relies on its tourism sector for economic sustenance. However, it is also important as a hub for commercial activities and light industries. 

            The town features numerous business parks crucial in generating local employment opportunities, with the recently established Airport Business Park standing out. Notable enterprises headquartered in Southend are HMRC, RBS Group, Olympus UK, Hi-Tec Europe, and Honeywell/MK Electric.

            Southend attracts approximately 6 million annual tourists, drawing a substantial portion from London. Many people come to see the Southend Pier, stretching an impressive 1.33 miles and holding the title of the world’s longest pleasure pier. 

            Beyond this landmark, Southend boasts an array of attractions, such as seven miles of inviting beaches, seafront arcades, the exhilarating Adventure Island, and the Sealife Adventure aquarium. Additionally, Southend has carved a niche for its vibrant nightlife, with its bars and clubs enticing revellers from across the region.

            Transport Links

            Southend boasts excellent transportation connections to London and major Essex hubs like Rayleigh, Basildon, and Chelmsford. The proximity to London is a key advantage, as the city can be accessed by train in approximately 45 minutes. 

            This accessibility makes Southend appealing for London-based commuters seeking value-driven properties or a coastal lifestyle. 

            The A127, A13, and A130 are the primary roads connecting Southend to London and Essex.

            Southend hosts its own airport, London Southend Airport, offering connections to European cities while also bolstering the local aviation sector.

            Furthermore, the forthcoming Lower Thames Crossing, expected to be operational by 2028, will establish a vital link between Essex and Kent.

            Regeneration Plans

            The Southend-on-Sea Borough Council has outlined ambitious strategies for revitalising the emerging city to enhance its residential and professional hub appeal. 

            The notable £500 million initiative, known as the Better Queensway project, entails the demolition of several obsolete tower blocks and creating approximately 1,700 new residences. The addition of shops, cafes, an urban park, and public areas near the town centre will complement these living spaces.

            Student Accomodation Market

            Southend also features a student accommodation market that caters to the University of Essex Southend Campus. This campus boasts approximately 1,500 students. 

            This student accommodation market provides opportunities for buy-to-let investors targeting this dynamic. However, somewhere like Liverpool or Manchester would be better suited to this type of strategy as they have a much larger student population.

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              Southend-on-Sea New Builds

              At the moment, there’s not enough available rental properties to meet demand in the UK, meaning there are growing calls for more new build developments across the country. Southend-on-Sea is also in need of more housing, and Southend-on-Sea City Council are working on providing new build housing through regeneration schemes such as the Better Queensway Project.

              But how does Southend-on-Sea look for investors hoping to invest in new build developments?

              There are some opportunities to invest in new build properties in Southend-on-Sea, mostly houses. As there may be more diverse investment opportunities elsewhere, it’s advisable to widen the search and research into the region as a whole, or think about other more affordable UK regions.

              It could be worth looking at other Essex areas to compare the new build investment opportunities on offer. This could include new builds Chelmsford, for example.

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              Off-Plan Property

              Off-Plan Property in Southend-on-Sea

              New builds are becoming more in-demand, but the higher price can be off-putting for many investors. Typically, new build properties are more expensive than old properties, so off-plan investment is becoming a more popular strategy in recent years. Off-plan refers to investing in a new build project before it is fully constructed. By investing earlier on, the investor can take advantage of discounts and payment plans to get a good deal on a new build property.

              For investors hoping to invest off-plan in Southend-on-Sea, the options may still be quite limited. Developers providing off-plan opportunities usually target major cities with high demand and strong potential for capital appreciation. For this reason, more diverse investment opportunities may be found in larger cities such as London, Manchester, and Liverpool.

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                How Does Southend-on-Sea Compare to Other UK Regions When It Comes to Buy-to-Let?

                As stated before, Southend-on-Sea has an average house price around 34.15% more expensive than the UK average. When looking at property market hotspots such as Liverpool, Manchester and Birmingham, the area seems much less appealing. 

                Cities like these boast a significantly cheaper average house price valuation, with Liverpool’s average house prices reaching £156,300, almost £200,000 less than Southend. 

                According to Home and the UK House Price Index, Liverpool also has a larger rental yield of 7.76%. 

                In addition, Liverpool and Manchester also have just as many – if not more – economic opportunities compared to their South East counterpart. Why not read about the latest property investments in Reading or some of the Buy to let properties in Islington.

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                Want to Invest in Southend-on-Sea?

                In conclusion, Southend-on-Sea presents a promising landscape for buy-to-let investments in 2024. With its diverse neighbourhoods, ranging from coastal havens to urban town centres, the town offers a range of options for potential investors. The rental market, bolstered by a growing student population and strong commuter demand, makes it an attractive destination for those looking to enter the buy-to-let market. 

                As the town undergoes regeneration projects and enjoys improved transportation links, its potential for capital growth and rental income becomes even more compelling.

                However, investors may still want to consider the North West over Southend if they seek more attractive rental yields and affordable property prices.

                If you are new to property investment in the UK or simply want to learn more about buy-to-let opportunities in UK rental market hotspots, check out some of our latest guides below:

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                Author

                Dale Barham

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                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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