I was talking to one of
my landlords from Blean the other week, when we were looking over a few
properties that he was considering to buy in Canterbury or Whitstable. As I
cover both Canterbury and Whitstable from my office I was able to discuss the
two places in depth. Over the last five to ten years I have noticed an
interesting pattern in the house prices between these two places. Property values have always been very similar
between the two, but Canterbury has always been a more expensive town to buy in
comparison to Whitstable, but depending on what type of property you buy, there
are some fascinating differences.
A few weeks ago we said the average value of a property in Canterbury
was £294,600 whilst in Whitstable, it was £301,700. Interestingly, property values in Canterbury
over the last year have increased by 9.2% but in Whitstable they have increased
by an even more impressive 13.25%.
Currently that means that property values in Whitstable are 2.4% higher
than Canterbury. However, when you look
deeper, things become even more interesting between the two. Terraced houses in
Whitstable are 7.1% higher than Canterbury’s (£255,000 to £237,900), semi-detached
properties are 4.1% higher in Whitstable compared to Canterbury (£262,700 to
£252,100 respectively). Whilst flats are only 2.5% higher in Whitstable at
£193,300 compared to Canterbury at £188,400. However, in Canterbury detached
houses are in fact 16.4% higher in value at £458,200 compared to Whitstable’s
£383,100.
So why the big differences when it comes to looking at the two places as
a whole? Well after investigating, it transpires that in Whitstable, there are
175.4% proportionally more detached houses than Canterbury. It is this greater
supply of detached housing which means the average price is considerably lower
in Whitstable compared to Canterbury.
These differing housing provisions in Canterbury and Whitstable just go
to show that you need to know your marketplace and decide which is the right place
for your money. If you are an existing landlord or one who is thinking of
become one in Canterbury, don’t hesitate to pop by our offices on Watling Street
in Canterbury or send me an email to david.anthony@martinco.com
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