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Published: 08:30, 07 June 2017 |
Updated: 09:00, 07 June 2017
House prices in Sandwich have surged by 50% in the past decade according to the latest review of seaside towns by the Halifax Bank.
It is named on a list of 20 seaside towns to have recorded the biggest increase in house prices between 2007 and 2017.
The average home in 2007 cost £221,915 compared to £334,177 now, a rise of 51%.
However, estate agents in the town say they are surprised.
Roger Waring, sales director for Regal Estates, said: “I would say it’s a little less than that.
“From 2007 to now we’ve seen about a 35% increase.
“When Pfizer relocated there was a lot of uncertainty and apprehension but the market is still very buoyant here and the property values have held up.
“Sandwich is a unique location with a big variance of properties.
“It’s a great place for people to live for various reasons.”
He noted its good amenities, the mainline railway station, schools, golf courses and links to Dover and Canterbury.
Simon Greaves, the managing director for Colebrook and Sturrock agreed that the percentage recorded by the Halifax is exaggerated.
He said: “I’m surprised.
“We have recorded a price rise for detached properties of 30%, terraced houses by 40% and semi-detached houses by 34%.”
He said the area is favoured by the retired and those buying second homes.
He added: “Sandwich is a very desirable place to be. It’s a compact medieval town with beautiful homes with everything close at hand.”
Mayor of Sandwich Cllr Paul Graeme has welcomed the news but he is concerned about how it is affecting younger people.
He said: “It’s a good thing for the owners but it does prevent younger people getting started on the property market.
“We’ll end up with a population in Sandwich which is disproportionate to democracy and we need more young people to vitalise the economy and make it a more balanced place to live.”
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