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Showing posts from June, 2018

Royal Tunbridge Wells Property Market – Which Houses are Actually Selling?

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Beast from the East, Russia, Facebook, Brexit, Trump, House prices up, House prices down ... the Press is full of column inches on Brit’s favourite subjects of politics, scandal, weather and not forgetting ( and I appreciate the irony of this!)  the property market. As an agent belonging a national group of letting and estate agents, talking to my fellow property professionals from around the UK, the one thing that is immediately apparent is the UK does not have one property market. It is a hodgepodge patchwork (almost like a fly’s eye) of lots of small property markets all performing in different ways.    … And that made me think … is there just one Royal Tunbridge Wells Property Market or many? I like to keep an eye on the property market in Royal Tunbridge Wells on a daily basis because it enables me to give the best advice and opinion on what (or not) to buy in Royal Tunbridge Wells, be that a buy-to-let property for a Royal Tunbridge Wells landlord or an owner occupier house for a

37% More Royal Tunbridge Wells Home Owners Wanting to Move Than 12 Months Ago

As I have mentioned a number times in my local property market blog, with not enough new-build properties being built in Royal Tunbridge Wells and the surrounding area to keep up with demand for homes to live in (be that tenants or homebuyers), it’s good to know more Royal Tunbridge Wells home sellers are putting their properties on to the market than a year ago.   At the start of 2007 there were 873 properties for sale in Royal Tunbridge Wells but by July 2008, when the credit crunch was really beginning to bite, that number had risen to 1,273 properties on the market at a time when demand was at an all-time low, thus creating an imbalance in the local property market.  Basic economics dictates that if there is too much supply of something and demand is poor (which it was in the Credit Crunch years of 2008/9) … prices will drop. In fact, house prices dropped between 15% and 20% depending on the type of Royal Tunbridge Wells property between the end of 2007 and Spring 2009. However, ov

Royal Tunbridge Wells Property Market Worth More Than Sage Software

The value of all the homes in Royal Tunbridge Wells has risen by more than 270% in the past two decades, to £7.753bn, meaning its worth more than the stock listed software company Sage Group, which is worth £7.481bn. Those Royal Tunbridge Wells homeowners and Buy-to-Let landlords who bought their homes twenty or more years ago have come out on top, adding thousands and thousands of pounds to the value of their own Royal Tunbridge Wells homes as the younger generation in Royal Tunbridge Wells continue to be priced out of the market.  This is even more remarkable because, in those twenty years, we had the years of 2008 and 2009 following the global financial crisis, where we saw a short term drop in house prices in Royal Tunbridge Wells of between 15% and 20% (depending on the type of property). And although there have been a number of consecutive years of growth in property values recently in Royal Tunbridge Wells it hasn’t been anywhere near the levels seen in the early 2000’s. Twenty

£1,161 pcm – The Average Royal Tunbridge Wells Rent

The rents paid by Royal Tunbridge Wells tenants are now standing at £1,161 per calendar month (PCM), a rise of 0.42% year on year and 0.5% higher month on month. However, this attention-grabbing monthly rent figure masks stark differences in the various different parts of the Royal Tunbridge Wells rental market. Demand in Royal Tunbridge Wells for high quality family homes with two or three bedrooms in good catchment areas for schools remains really robust due to tenants wanting access to the schools.  Other influencing factors that make certain areas popular are the proximity to transport links. However, I have noticed a drop in demand (and thus rents achieved) for property where the landlord hasn’t kept the property fresh; in terms of decoration, carpets, replacement windows and poor heating.  So, what does all this mean for Royal Tunbridge Wells landlords and tenants? With the new tax rules for landlords, many believed that the number of rental properties would narrow throughout 201