House prices in Kent have risen by £164,000 over the last four years.
In 2019 the average house price in Kent was £296,000 according to GOV.uk, now in 2023 the average price is around £460,000.
However, the rise in house prices has caused it to be difficult for people to keep up with mortgage payments and it hard for the housing market to sell as many properties as it usually would.
Estate agent Lara Prior from Ashford said that: “The increased interest rates has definitely led to less people buying houses, as monthly payments are considerably higher now. We are also having more investors sell their properties due to this.”
Tom Mill who is looking to buy a property for the first time said that:
As a young professional making the first step onto the property ladder can often feel a huge leap away due to the current financial status of the country matched with the overall housing shortage on a whole. The barrier to entry seems to get further and further.
Kent is known as the garden of England, its got fast connections to London and Europe and has lovely coasts, its population growth is increasing each year and becoming a more up and coming place to live with more and more job opportunities.
Multi million Netflix studio which is going is set to open in Ashford in 2024 will also provide hundreds of jobs for Kent.