Kent performing well in property slowdown

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by Kay Murchie

According to property consultant, Cluttons, property in Kent is well-placed to perform well in a slowing housing market.

The organisation said the area has good transport links to London and the south coast and the area has been benefiting from sustained price increases over the last few years.

James Best-Shaw of Cluttons said I think one of the advantages Kent might have in the next 12 months is prices haven’t increased quite as much, they haven’t been as crazy as in Guildford and places like that.

It may be that if there is a price adjustment you might see perhaps 5% come off in Kent whereas you could easily see 20% come off elsewhere, added Mr Best-Shaw.

Furthermore, the consultancy said there is a readymade market in the county waiting for good value properties to emerge on the market. In the mid-term, this should ensure sufficient demand to support prices amid a wider slump.

Mr Best-Shaw explained that there are many people sitting in rented accommodation who are looking for houses for £500,000 upwards and they think they deserve a bargain. If you offer them just a little bit of value they’ll come in very strongly because they don’t want to sit in rented forever, they want to get on with their lives, concluded Mr Best-Shaw.

Traditionally, investors have looked to the towns of Sevenoaks and Tunbridge Wells but these are perhaps not the best investments in the present climate. Prices have risen significantly in these towns and could now fall considerably.

Consequently, Cluttons are recommending that buyers consider up-and-coming locations like Ebbsfleet, which is surrounded by countryside and just 20 miles from London.