If you are planning to buy your first home or relocate in 2016, your choice of location will ultimately prove crucial. Despite the widespread portents for growth nationwide in the UK, inflated price points in the capital have begun to stagnate while some areas in the North of England have even seen properties lose value. There remain some regions that continue to grow at a consistent and sustainable rate, however, meaning that they offer the ideal balance between affordability and long-term value to buyers.
Why Kent could be the dream location for a Property buyer
Take the South East of England, for example, which has enjoyed considerable prosperity during the last 18 months and is expected to experience further growth in 2016 and beyond. In fact, house prices here are expected to rise by 5% annually over the next five years, and despite general worries concerning the long-term value for money available to buyers there are coastal locations in the South East that are only just beginning to embark on an upward trend.
No single town embodies this better than the historic coastal town of Margate in Kent, which has experienced huge peaks and troughs since the late, 19th century. A huge boom in the 1960’s was followed by a significant decline throughout the 1990’s, which left Margate little more than a washed-up landmark with high unemployment and a proud heritage. The £10 million restoration of Dreamland (which is Britain’s oldest amusement park and seemingly synonymous with Margate’s real-time state) in 2011 has laid the foundations for the regeneration of Margate, while restoring the lustre of Kent as a viable location in which to buy real estate.
The rise of Margate and Kent as Property Hotspots
This, along with the opening of the Turner Contemporary Gallery four years ago, has triggered a string of events that have helped to establish Kent as one of the UK’s leading property hotspots. The region’s grandiose town houses are gradually being restored as lavish single homes, for example, where once they were crudely converted into small and dingy apartments. Despite this, Kent is only just embarking on an upward curve, meaning that relatively low-cost properties with a high future resale value can be sourced by buyers.
This upward trend will continue at pace, however, so now is the ideal time to get involved and purchase a property in Kent. To start the process visit an in-tune, local adviser such as Kent Reliance to appraise the financial market and gain quotes regarding a mortgage in principle.