Kent is Millwood’s heartland and it is an area where the property market is performing well. It is undeniable that the shortage of supply of homes is one major factor helping keep the market buoyant. The lack of good second hand housing stock results in particularly strong demand for new homes as buyers become increasingly aware of the many benefits of buying a new build property.
We are incredibly active at the moment in Kent with several developments that will bring a variety of high quality new homes to the market. Properties across our ‘Kent Collection’ are selling well following their recent launch. The three developments – Windsor Meadows in Marden, Brambledown in Maidstone and The Old Orchard in Sutton Valence – offer a mix of different property types to suit a range of buyers.
Kent’s county town of Maidstone is undergoing development and its fortunes are on the up. The local council and its various development partners are working together to bring forward plans for extensive new retail-led development that is kick-starting the regeneration of the town.
Investment in the region’s roads and infrastructure is also vital in the creation of new homes and communities. One example is the new A21 Pembury bypass, where the £70 million project to create a dual carriageway will soon be complete. This will have huge benefits for the Tonbridge area, relieving congestion and improving what is the main route between the M25 all the way down to the coast at Hastings, where we are selling at the popular Woodlands View development.
As a location to live, Kent has many pull factors that help draw new buyers to the area. As well as the many attractive towns and villages, green countryside, good transport links and excellent schools, overall Kent offers better value compared to other home counties locations. The average price paid for a property in Kent was £303,025 over the past 12 months. By contrast, the average price paid in Surrey was £525,290, according to figures from Zoopla. The advantage of better value property is luring many purchasers moving out from London in search of more space, as well as commuters who work in the capital.
All of this adds up to a positive outlook for the property market in Kent, where property values have risen a robust 4.5% over the past year, which is higher that in other surrounding counties. The outlook remains upbeat – we do not expect any rise in interest rates in the near future so buyers will continue to benefit from favourable market conditions.