Miles & Barr's 2021 Property Market Report reveal 1 in 5 enquiries for east Kent property came from Londoners


More news, no ads

LEARN MORE

One in five people looking to buy a house in the east of the county were from London, according to a new report.

Miles & Barr's 2021 Property Market Report also revealed the average price of a house in east Kent reached £337,627 last year - around 10 times the South East's average salary.

This property in Ramsgate was Miles & Barr's most viewed online in 2021 - and is still on the market. Picture: Miles & Barr
This property in Ramsgate was Miles & Barr's most viewed online in 2021 - and is still on the market. Picture: Miles & Barr

It says the increase of interest from those in London has been accelerated by the impact the pandemic has had on working habits, with Canterbury, Ramsgate and Margate attracting the most attention.

The report says: "The east Kent property market continued to see an influx of demand for properties, particularly from Londoners looking to escape the city life and enjoy the peaceful scenes of the seaside or countryside.

"With one in five registered applicants coming from London, the shift to flexible and home working meant Londoners were looking for a quieter pace of life with more green space and excellent schools.

"Covid-19 has fast-tracked the concept of flexible working, leading to many needing a home office and easily accessible links back to the capital, which east Kent provides in an abundance."

The report says prices increased broadly in line with national trends, rising by 9% year-on-year.

House prices across the east of the county rose by around 9% in 2021. Picture: Miles & Barr
House prices across the east of the county rose by around 9% in 2021. Picture: Miles & Barr

But that will come as little comfort to those desperate to try and get on the property ladder in what is, traditionally, the more affordable half of the county.

The average salary in the South East, according to the Office for National Statistics, is just over £34,000.

Miles & Barr, which recently moved into new headquarters in Herne Bay and has offices across the east of the county, says the number of rental properties coming on to the market has also shown a dip - down 18% on 2020.

The report added: "Demand out-weighed supply during 2021, particularly within the last six months of the year. It is expected that this trend will continue in 2022, so now could be the ideal time to get market ready, preparing sellers to react quickly should the house of their dreams come to market."

The stamp duty holiday in the first half of the year led, says the report, to record sales, before the growth started to slow.

It says it also saw heavy demand for properties value above £500,000 with the most expensive sale agreed totalling £1,525,000 - up 9% on 2020.

Clinton Wells, director of its 'Exclusive Homes' division, said “The increase in the Exclusive market has been a result of the shift in working conditions, with many now working from home due to the pandemic, and no longer needing to live near their office. This meant that many buyers were able to purchase homes that they could only have dreamt about before, and now it can become a reality.”

The firm says it accounted for 25% of all new sales agreed in 2021 in east Kent according to figures from Rightmove.

Close This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.Learn More