BOOMING Southend is seeing an influx in out-of-towners buying up property as figures reveal it is one of the best places in the country to make a lucrative investment.

Data from property investment company TIC Finance found that Southend impressively saw no reductions in house values over the past ten years and reported a healthy average yearly growth of 5.63 per cent.

The current average price for a home in Southend is £292,500, with a 5 per cent deposit of £14,625 needed to buy a home.

Mike Gray, managing director of Dedman Gray estate agents, said he has seen huge interest from out-of-towners wanting to move to Southend, particularly in the light of the Covid pandemic.

He said: “Southend as an area has certainly stayed quite stable in recent years.

“There are many factors that have helped this position which include the upgrading expansion of Southend Airport, the development of new colleges and universities in the town and also improvements to train links - particularly the c2c line for commuters going into London.

“The recent uplift in demand to live in Southend has also come from the experience of Covid where many buyers are moving out of bigger cities and wanting to enjoy the leisure and tourism feeling of Southend and, of course, living very close to the sea.

“In the last two to three years we have seen an increase of interest from out of towners by 25 per cent.

“This increased interest has come from both first time buyers and families.”

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Leigh homeowner, Raymond Wright, 36, said: “I’ve always loved Leigh and I feel like it’s even more in demand now because of the commuter belt.

“Everyone’s coming in from London.

“It’s a really nice place to live and there’s loads of nice places to eat and drink right on your doorstep as well as the beach.”

Council bosses insist that the attractions Southend has to offer is a big part behind the stability in house value in the area.

Carole Mulroney, cabinet member for tourism said: “What Southend offers is being beside the most glorious seafront as well as plenty of other things like our lovely parks.

“When you’re buying a property, you look at what the area has to offer. People look for what amenities there are.

“People love living by the sea it’s such a huge attraction.”

Deputy leader, Ron Woodley said: “I don’t think it’s a question when you buy a house in Southend. Southend has a lot going for it in terms of its commuters, its air quality, its beaches and some of the best parks in the country.

“People want to move to Southend because it’s one of the best places to live.”