Wednesday, 29 October 2014
Property Values along A2
In a previous article I said that average property values in Canterbury had risen by £24,900, taking the average Canterbury property to £294,600 (a rise of 9.2% over 12 months). However, the A2 has other towns and cities along its length and as a landlord one must consider other towns and cities to invest in. One town along the A2 is Faversham. An average property in Faversham has seen an increase in property values by around £11,500 over the last 12 months, taking an average property up in values by 4.5% up to £265,800. Sittingbourne has also seen some modest property value increases, taking the average property from £217,400 a year ago to £225,300, a £7,900 increase or a 3.6% rise.
In a South Easterly direction, we get to Dover, where average property values have impressively risen by £13,800 to £199,200. Even when you consider that property values in Dover are quite low, this still a rise of 7.4% in the last 12 months! Interestingly though, you have to go to Blackheath in London (still on the A2) to get a better increase in values, where there they have risen by 14.89%, but that is over 54 miles away, and I don’t know about you, but most landlords do tend to like properties to be close by where they live.
I find it amazing all these places along the A2 – Sittingbourne, Faversham, Canterbury and Dover all within a matter of a few miles of each other, can experience such variations in property prices. With average rents steadily rising by 1 to 2% a year and with continuing troubles for first time buyers raising the £10,000+ for the deposit and fees, I can only see greater demand for rental properties in Canterbury, which will mean more people will continue to buy property for Buy to Let, and where there is greater demand, the price tends to go up. This however, is only my opinion. If you want to chat about any matter relating to property in Canterbury, pop in and see me or one of my team in offices on Watling Street in Canterbury for a chat or email direct for any opinion on email@example.com