With a population of just under 30,000, Evesham is by no means one of the most populated towns in the UK, but it has a lot going for it. Given its long history dating back to the Middle Ages and its prominence in the fruit and vegetable space, could a real estate investment in this historic market town make sense?
Real Estate Economics and Regulations
As with any real estate market, the unemployment rate is often a good metric for getting a broad overview of how things are going. Evesham has historically had a lower unemployment rate than the national average, largely attributable to its strong agricultural base that goes back centuries. Its close proximity to major cities like Coventry and Birmingham also contributes to this.
Another positive sign to look for is investments in the local area, as this signals that the region is growing and has a positive future outlook. The fact that Evesham’s Hampton Bridge project was recently given the go-ahead to begin planning is a positive thing for the region’s real estate market.
There are also many regulations that are good for property investors, and they can even help protect you when things go wrong. For example, let’s say that you bought a house in Evesham, you’ve started experiencing financial difficulties, and now, trying to learn how to stop the repossession of your house is the main priority. The Financial Conduct Authority lays out very specific rules that lenders must follow, as well as giving you plenty of time to come up with a way to solve the issue. It’s not as though your house will be taken away as soon as you miss a payment.
Social and Community Considerations
Looking at Evesham now on a more day-to-day life basis, a few things stand out. Firstly, Evesham is home to multiple good learning institutions like Evesham College and The De Montfort School. In fact, the latter’s most recent Ofsted report showed a big rating increase compared to even just a few years earlier.
Much like the unemployment rate, Evesham has generally experienced lower crime rates compared to the national average, as well. This could be the result of a tighter-knit social fabric that is common in smaller communities, in addition to the region’s relatively stable economic environment. Either way, this is another promising area for Evesham’s real estate market.
Another factor to consider when assessing a town’s real estate prospects is the available community services. Evesham also scores highly in this category, with comprehensive healthcare facilities like the Evesham Community Hospital and multiple elderly care options, including Richmond Villages Wood Norton. Then there’s the Wallace House Community Centre, which has activities for all ages, as well as important charitable organisations like Caring Hands.
Overall, Evesham’s real estate market seems promising. The town is historically safe, highly employed, has facilities for people at all stages of life, and is close to major city centres for when they’re required. While it may not have been on the radar for most real estate investors, maybe that will soon change.
