The property market in a seaside town in Essex is among the fastest moving in the whole country, with local estate agents claiming houses are being sold within days of being advertised.
According to Righmove, Canvey Island, in the south of Essex is the eighth quickest-selling coastal market in the country, with an average asking price of more than £300,000.
The average time it took to sell a home in the area this year was 28 days, 16 days faster than the national average of 44.
But according to one estate agent at firm Anthony Quirk & Co, properties can sometimes sell within a couple of days.
We went to Canvey Island to find out exactly why it was one of the fastest markets in the UK and what was drawing people to this area of Essex.
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‘Properties can sell within 2 days’
According to Rico Shabbir, sales negotiator at Anthony Quirk & Co, one of the local estate agents in Canvey Island, this is a trend they’ve been noticing for a while.
But it’s mainly smaller properties which cost under £325,000 that are selling so fast, he said.
Rico said: “We can sell a property within a couple of days, two or three days.
“The average selling time is between one to two weeks for under £325,000 properties.”
Rico explained how there are a lot of younger people coming onto the market, up to the age of 35.
“There are a lot more buyers out there than there used to be,” he added.
And Canvey seems to be pulling in people from all backgrounds and faiths.
In the space of four years, 500 Haredi Jews now live there.
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During lockdown, many people have been able to save money, including by living at home with their parents.
But now they’re ready to move out, and many are looking at Canvey Island as a place to move to.
“People are moving out from East London, from Dagenham, Barking – though not really other areas,” Rico said.
There isn’t a train station in Canvey Island itself – commuters have to drive to Benfleet to get to London or Chelmsford – but it’s seemingly not stopping young people from moving to this coastal town in Essex.
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