Regional Property Market Update Autumn 2020: South East Home Counties – Kent and East Sussex

Market Reports GPEA 27th October 2020

It is estimated that nearly two million people own buy-to-let property across the UK (Resolution Foundation 2019), with property being regarded as a ‘safe-haven’ asset. At 4.9% the gross yield on residential property across the South East is attractive.

In the South East Home Counties, gross yields are upwards of 5% in four areas. Brighton and Hove is currently the top performer followed by Canterbury, Dartford and Eastbourne.

Average gross yields on residential property are attractive, with positive rental and house price growth

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Strongest housing markets across the Southern Home Counties

Property prices across the South East were 2.1% higher year-on-year as the housing market reopened in June. Sevenoaks is currently the strongest performer in the area, with price growth of 4.7%. Activity across the market has been brisk, nationally the average time taken to sell a property fell to 53 days in August, down from 62 days in August 2019. Sensible pricing remains crucial, as correctly priced properties are nearly twice as likely to be sold ‘subject to contract’ within four months of listing than those that have had their asking price reduced. Homes in the South East are selling, on average, 12 days quicker than a year ago.

South East Regional Property Market Report Autumn 2020 2

Justine Stapleton, Associate Director at James Millard Estate Agents, comments on the South East region:

“I very much see the autumn market as a mix of opposing forces; on the one hand we are still seeing demand fuelled by a desire to capitalise on the stamp duty holiday and a drive to escape London and the suburbs for more leafy climes and a feeling of ‘space’. However, on the other, we are witnessing demand being curbed by lenders tightening-up their criteria further and increasing unemployment levels which were expected post the closure of the furlough scheme. Regarding the stamp duty holiday, it really is a race to the finishing post now to get on board with a property choice, so any option offered with vacant possession is going to be an even more enticing prospect!”

Properties for sale in the Southern East Home Counties

Brighton, East Sussex, 4 bedrooms

This spacious four-bedroom terrace house is an ideal family home set over three floors, offering versatile accommodation including a spacious lounge and dining area, a fitted kitchen, a family bathroom and a cellar offering plenty of storage. This property is set within the sought-after Kemp Town location, close to a fantastic range of amenities.

Tunbridge Wells, Kent, 3 bedrooms

This attractive detached double roundel oast house has been sympathetically converted, retaining a wealth of original features, and offers three en-suite bedrooms, a bespoke roundel kitchen, roundel dining room, a sitting room with a woodburning stove and a low-maintenance courtyard garden with a pond. The home is also in a catchment area for good local schooling.

Thanet, Kent, 4 bedrooms

This beautiful, detached family home is set in a desirable Broadstairs location. The property is situated close to the town and railway station for commuters and is in a school catchment area with schools rated as ‘outstanding’ by Ofsted. This characterful property comprises a bespoke country style kitchen and diner, a sizeable fitted office, a lounge with a box bay window, a master with en-suite facilities, three further bedrooms and a family bathroom.