Property values rise by £877 per week in Canterbury

Last week, a landlord who lives in Faversham, came in to our office to discuss the rising property values in the area. He owns a varied portfolio of rental properties, primarily in Canterbury and Faversham with one in Sittingbourne, so it was interesting to compare the increase in property values around the area.

Over the last three months, in Canterbury, average property values have risen from £280,800 to £291,300, a rise of £10,500, or £877 per week. When I looked at some of the surrounding areas, Sittingbourne has had a lower average increase in property values, at around £716 per week, whilst Faversham has a similar modest rise to Canterbury, with an average increase of around £809 per week. A rise in all the town’s average property values which suggests the market is recovering quite nicely in our area of Kent – good news for home owners and landlords alike.(Unless you are in Herne Bay, where it’s a more modest £577 per week).

When considering this landlord’s buy to let portfolio, yields can be in the order of 4% to 5% per year in Canterbury, depending where you buy, so combine that with steady rental growth, excellent increases in capital values of the properties themselves and it could be a good time to invest in the property market in Canterbury as property values start to rise.

If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in the rental market for the first time, please feel free to pop into our offices on Watling Street for a chat about the property market in Canterbury. However, if you can’t get into town, feel free to email me on david.anthony@martinco.com with any questions or any properties you want my opinion on.