Friday, 26 September 2014

Property Values along A26



In a previous article I said that average property values in Royal Tunbridge Wells had risen by £18,700, taking the average Royal Tunbridge Wells property to £399,900 ( a rise of 4.9% over 12 months). This is great news for anyone who owns their own home in the Royal Tunbridge Wells. 
 
However, the A26 has other towns along its length and as a landlord one must consider other towns to invest in. If you go North out of Royal Tunbridge Wells along the A26 the first town we get to is our sister town of Tonbridge, this town has seen an increase in property values by around £28,700 over the last 12 months, taking an average property up in value by 7.8% to £395,000.  Going further North, we get to Maidstone which has also seen some modest property value increases, taking the average property from £259,900  a year ago to £282,300, an £22,400 increase or an 8.6% rise.


In a Southerly direction, we get to Crowborough, where average property values have also impressively risen by £30,600 to £383,500 which a rise of 8.5% in 12 months.  If you go a little further South along the A26 we get to Uckfield where property values have only increased by 4.5% taking an average property from £372,600 to £389,400.   

I find it amazing that five places along the A26 – Maidstone, Tonbridge, Royal Tunbridge Wells, Crowborough and Uckfield, all within a stones’ throw of each other, can experience such variation in property prices. 

 With average rents steadily rising by 1 to 2% a year and with continuing troubles for first time buyers raising the £15,000+ for the deposit and fees, I can only see greater demand for rental properties in Royal Tunbridge Wells, which will mean that 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 Royal Tunbridge Wells, pop in and see me or one of my team in offices on Vale Road in Royal Tunbridge Wells (near the Train Station) for a chat or email direct for any opinion on david.rogers@martinco.com

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