Property in Kent remaining resilient

The often under-valued county has proved resilient in the property market downturn.

Kent is weathering the downturn in the property market better than other parts of the South-East, say Knight Frank. According to Jon Neale, head of development research, ‘prices across the South-East have fallen by 7.2% over the past six months, but in Kent, they have only fallen by 2.8%. Some towns in Kent are even seeing price rises, with two in particular outperforming the market.

Prices in Sevenoaks and Tonbridge are 1% and 0.5% higher than just six months ago-part of a long run that has seen prices in the two towns rise by 61.6% and 51.1% respectively over a three-year period. ‘Historically, however, the county has been undervalued compared with the other Home Counties, and this may explain its resilience. The eastern half of the county, one of the most unspoilt parts of the South-East, is particularly good value for money, partly as a result of its relative isolation.

This may change when the domestic high-speed railway starts running in Kent in December 2009. Canterbury in particular will be far more accessible only 61 minutes from the capital, compared to 102 minutes at present. It will also open up the picturesque villages around the North Downs'.

Source: Countrylife.co.uk