Friday, 4 October 2019

What’s the biggest street in Royal Tunbridge Wells (TN1)?

Most weeks, my articles on the Royal Tunbridge Wells property market tackle some of the big issues about the local property market, such as the lack of new homes being built in Royal Tunbridge Wells, the trials and tribulations of being a Royal Tunbridge Wells buy-to-let landlord and the future of the Royal Tunbridge Wells property market .. yet in this article, I wanted to give you some fun facts about the Royal Tunbridge Wells property market – which is the largest street in TN1 by the number of properties on it?

The biggest street in TN1, when it comes to the number of houses on it is Upper Grosvenor Road, with 758 homes. In second place is St James Road with 239 homes and in third is London Road with 220 homes.

Not surprisingly, the most valuable street of the top 20 biggest streets is Upper Grosvenor Road at £214.2m with an average value of £283,000 per property.

The street with the greatest number of movers in the last 3 years is also Upper Grosvenor Road, yet its saleability rate was only 9.1%, with London Road having the highest saleability rate of 20.9%.

The full breakdown can be found in this chart below.

Yet, did you really think I wouldn’t get at all serious .. 

The basic rudiments of the Royal Tunbridge Wells property market remain principally healthy in many parts of Royal Tunbridge Wells, yet the existing political environment means that the vital element of confidence has been diminished slightly in certain parts, and that is triggering a minority of potential property purchasers and house-sellers to vacillate, yet with unemployment at an all-time low, a record number of people with a job, ultra-low interest rates and decent mortgage availability (with the Banks and Building Societies tending to drop mortgage rates instead of increasing them), those Royal Tunbridge Wells first time buyers (and especially Royal Tunbridge Wells buy-to-let landlords) who have adjourned their next house purchase because of perceived political uncertainty should be reminded that talking to many of my fellow Royal Tunbridge Wells agents they have more homes on their books than at any time for the last three or four years, so there is a greater choice of Royal Tunbridge Wells properties to call your next home/BTL investment with a potential of securing a great property deal in the next month or so.

Irrespective of what happens with Brexit, Royal Tunbridge Wells people will still need a roof over their heads and as I have mentioned on a number of occasions, I have proved beyond doubt we aren’t building enough homes both locally in Royal Tunbridge Wells and nationally. If supply is limited and demand increases (as the population grows and we get older), prices in the medium to long term can only go in one direction. Upwards!

So, whatever happens with BoJo and Brexit – why wait, because once we get over that hurdle, there will just be another hurdle and another hurdle and by which time – we will be in 2029 and you would have missed the boat. We survived the Global Financial Crash, 3-day week in 1970s’, hyperinflation etc etc …  yet the choice is yours.

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