John Elliott, Managing Director of Millwood Designer Homes, comments on the current market trends in Kent, and what key factors may affect the market this year.
According to research by Zoopla, Kent has experienced growth of just over 4.5% in average property prices in the past couple of years, much higher than its neighbouring counties. Relative affordability and accessibility to both London and Europe are two factors driving strong performance in various locations across Kent and Medway.
The market continues to thrive as a high level of activity amongst local homebuyers and those relocating out of London ensures demand remains robust. The county is certainly an attractive place to deliver new homes for homebuilders, due to current strong demand outweighing supply.
The South East is an increasingly favourable and dynamic business and investment location with exciting economic growth prospects over the coming years. Strategic investment in the region’s infrastructure and development is breathing new life into the region, and in particular the Ebbsfleet area will remain a vital gateway to continental Europe, regardless of the impact of Brexit.
There are endless attractive prospects drawing people to the area, including excellent commuter links, high employment rates and strong educational options. Many of the county’s historic towns are experiencing vast improvements and expanding residential bases, such as Maidstone, Sevenoaks, Dartford and Tunbridge Wells. In addition, Kent’s housing stock is expected to be benefit from an additional 9,800 new homes annually until 2031, according to the most recent Kent Property Market Report.
Meeting this strong demand, we have a number of current and forthcoming sites throughout the heart of the Kent. In Marden, one of our largest sites to date, Windsor Meadow, has seen excellent footfall this year and interest is extremely high, thanks to the direct commute from Marden Station into central London. Homes are also being snapped up fast at Brambledown in Maidstone, from downsizers and families alike looking to benefit from the town’s ongoing improvement and only two homes remain in Sutton Valence at The Old Orchard.
Later this year, we will be launching a couple of exciting new developments in East Kent, including beautiful sites in both Canterbury and Cliffsend, two already thriving towns.