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Coastal homes across the country have rocketed in value over the past decade, with six Kent towns featured in a list of the top 10 seeing the biggest jumps.
Since 2012, the average cost of a house in seaside areas of the county has increased by as much as £236,000 as ‘down-from-London’ demand has seen prices surge.
Of all Kent beach towns, no place has seen a greater increase than Margate, where house prices have more than doubled in the past 10 years.
Regional managing director for Wards real estate agency, Tom Ross-Bason, says public investment in the town has played a role in making it more attractive.
“Margate has had a huge amount of investment from the local council in regeneration projects,” said Mr Ross-Bason.
“It’s becoming a much more desirable location for families and businesses, and a lot of that actually has to do with the pandemic as well.
“Since Covid, we’re seeing a lot more people setting up home offices - well you just can’t do that in a two-bedroom apartment in central London.
“But of course, in Margate you’ve got Victorian properties on the promenade with more space and more availability.”
It is not just Margate that has seen a spike in the past decade - among the towns illustrated above, the average house price in 2012 was £239,000.
But in 2022 from Ramsgate to Romney Marsh, buyers were typically shelling out no less than £300,000 for bayside abodes.
Estate agents say that Kent is particularly attractive because of its pretty coastlines, relatively nice weather and towns like Whitstable and Westgate-On-Sea that have a village feel, with lots of independently owned businesses.
Ward’s senior operations director Sam Dalton says second home ownership is also a contributing factor.
“The market in a place like Whitstable, for example, attracts a more established, affluent and dare I say, older clientele who are financially strong.
“Many of these clients are coming from London or the suburbs who are looking for a second, holiday home or a home to retire to.
Mr Ross-Bason says that although this house price trend is good for local economies and businesses, it does pose a challenge to first-time buyers in Kent.
“Of course, they’re annoyed,” he added.
“They want their homes, they want them cheaper.
“But like all areas that are seeing increased activity and increasing house prices, affordability on the Kent coast is being stretched.
“Nothing seems more inevitable in the long term than further house price increases, but in the offices I’m working in, house prices have now become more sensible and realistic.
“My advice to first-time buyers would be do your research and speak to well-established, real estate agent who knows the area.”