Kent is best known as the Garden of England and it has earned the unique title ‘Agricultural County’. But Kent has more to offer in terms of property investment and hence property investors are going crazy over properties in Kent. The demand for estate agents in Kent as well as Faversham estate agents has risen significantly for the same reason.
But are there more reasons to invest in Kent?
Let’s find out.
Why are investors choosing Kent as an investment option?
Kent is rich in diversity- a county stretching from the English Channel coast up to Greater London. While some parts of Kent are heavily populated, a good part of Kent is still rural and peaceful.
Along with agriculture, the economy of Kent is also influenced by manufacturing, financial sector, public sectors, tourism, leisure, public services, and transport. Other important contributors to the economy of Kent include the Port of Dover and the Channel Tunnel.
Further development plans are in place such as the establishment of modern medical technology, manufacturing units, engineering, as well as digital units which according to Faversham estate agents are sure to garner more interest from buyers and tenants.
The location of Kent is also extremely strategic and is regarded to be the Gateway to Europe and the Garden of England. It is connected to the Channel ports, London along with the rest of the country by M20, M2, and A2 roads. Rail services are available that connect Kent with London and mainland Europe. High-speed rail services at international stations located at Ebbsfleet and Ashford International are also considered to be big plus points.
After the completion of the new Lower Thames Crossing of the River Thames (by 2027), the connection of Kent with Essex will improve drastically. Hence, Kent will be more popular as a business hub and as a place to live and work.
In terms of the growth of population, Kent is a fast-growing part of the country and this means a great boost in demand for accommodation in the upcoming years.
Owing to good connectivity, Kent is also an attractive option for Londoners as it only takes 30-45 minutes to reach central London. With campuses in Canterbury and Medway, the University of Kent also attracts a good population of students. The University Of Canterbury Christ Church University also has campuses in Tunbridge Wells, Canterbury and Medway while the University for the Creative Arts has two campuses- one in Canterbury, and the other in Rochester.
Value of property in Kent
Outside London and within the UK, the price of properties in the southeast part of England (Kent is a part of this area) is the highest. As per the data provided by HM Land Registry, the average house price in the southeast area is approximately £337,000.
The most interesting part about the property market in Kent is the heady mixture of expensive towns and cheap property hotspots. This allows investors the chance of finding amazing bargains in property investment.
Demand for rental properties in Kent
The rental market in Kent is varied as there are all kinds of buy-to-let properties for investors to choose from. The demand is mostly created by local people, commuters who want to live close to London, and people who are working in Kent. Since there are several university campuses in Kent, student accommodation markets can also be found in some of the locations.
Now it must be kept in mind that lower property prices in a few parts of Kent are indicative of their popularity as shared housing projects or them being HMO accommodation. Hence the yield from such properties is mostly high.
However, investors should always check the need for licenses that are necessary before investing in any kind of shared accommodation with the respective local authority.
Here is a list of some of the largest towns in the county of Kent in which property investors can choose to invest in-
Ashford- Average rent in the town of Ashford is approximately £1,080 PCM while the gross rental yield is around 4%.
Canterbury- In Canterbury, the average rent is currently £1,310 PCM and the gross rental yield is at a strong place being at 5.3% and 5.7%.
Some more towns to invest in would be-
- Medway towns
- Royal Tunbridge Wells
Kent is a great market for property investors as there are great chances of further development in the near future. If you are trying to understand the property market in Kent, we hope this blog was insightful.