Clacton is 'most affordable' town for property (From Clacton and Frinton Gazette)

Clacton is 'most affordable' town for property

7:16pm Saturday 23rd May 2009

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A SEASIDE resort has the easiest property ladder to climb of 65 towns around London, according to new research.

A study by property consultancy firm Savills found it was easiest to trade up your property in Clacton.

The survey looked at the affordability of climbing up the property ladder, based on the average price of a one bedroom flat at the bottom of the housing ladder and the proportionate increase in the cost of upgrading to four bedroom house.

Basildon was the third most affordable town, and Hove the least.

James Eniffer, the office manager at Sheens esatet agents, in Old Road, Clacton, welcomed the survey results. He said: “That is very good news, it will help the area.

“Clacton always has always been known as a value-for-money place.

“It is affordable to buy here and commute to Liverpool Street, so a lot more people are choosing to do that commute and have a cheaper property.

“You are getting a lot more people coming down who appreciate that it is a nice quiet area.”

Colin Dixon, the manager at Peagrams estate agency, based in Station Road, Clacton, said: “It has a reputation for being cheaper.

“A lot of our buyers from London come here for retirement or financial reasons – it helps a lot if you are struggling. They can reduce their mortgage, or get a larger house for a similar value.

“ A lot of them sell in up London for £250-300,000 and then buy here for £150,000 or so and then they have got a nice little nest egg.”

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