Kent Property Market Report suggests strong resilience in the county

By Tom Kilkelly

9 November 2023

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Diliff, CC BY-SA 4.0 , via Wikimedia Commons

According to the Kent Property Market Report, the performance of Kent's property market runs parallel to the recent changes in how the public lives, works and plays.

With the emergence from Covid; the war in Ukraine, and rises in inflation and interest rates, the report highlights that Kent’s property sector is showing early signs of recovery with investment coming forward.

This report, running for over 32 years now, is produced by Caxtons Property Consultants, Kent County Council and Locate in Kent.

House prices in the county are up 2 per cent on the previous year, with with Tunbridge Wells topping the list at a 10.1 per cent increase.

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Kent’s leisure and tourism sector has bounced back with domestic overnight spend worth £477 million, up 97 per cent on the previous year, stimulating major investments.

The result has been extremely beneficial to coastal communities, such as Folkestone and Margate, but also Kent’s market towns and villages.

Simon Ryan, Investment Director at Locate in Kent, said: “Again, the Kent Property Market Report shows the region’s real estate resilience despite the challenges of recent years. Investment here brings prosperity for the whole country.

''Our own research suggests £23 billion in Gross Value Added (GVA) could be added by the region to the UK economy by 2050 as investment is made - from delivering faster, more sustainable distribution of goods through the Channel Ports and science park expansion to the green jobs that will supercharge manufacturing, logistics, construction and food production in the region and beyond. ''

By Tom Kilkelly

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022.

During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan).

His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.