Why invest in property in Chatham, Kent?
If you feel put off by the growing prices of London properties, Chatham properties might just be for you. Located only 30 miles away from London, you can capitalise on the growing number of London expats.
Here are a few crucial reasons you should start your search for a property in Chatham, Kent, today!
- More and more people are chased out of London for its insane cost of living, although not all want to be too far away from this business hub. For that reason, Chatham, being only 30 miles away, is a perfect spot for both students and young professionals
- Chatham offers an opportunity for excellent capital appreciation, strong returns and growing tenant demand, and what property investor can say no to that
- Chatham is on the very doorstep of the metropolis of London and is boats an excellent transportation network to and from the city
- At the same time, residents of this city are surrounded by idyllic landscapes, close to the water and outside of the city bustle.
- Chatham is undergoing 2 regeneration projects, which will further improve the overall quality of life it can offer to its residents
Chatham properties VS London properties
While many factors influence your decisions as a property investor, one of the most important ones are the price and the potential returns. We’re not saying one city is undeniably better than the other, as at the end of the day the decision is entirely up to you.
One of the most appealing features to anyone looking to find a property in Cahtham is the comparatively low price of property.
Namely, over the last year properties for sale in Chatham had an overall average price of £292,715. The majority of sales were terraced properties with an average price of £251,779. Semi-detached properties for sale in Chatcham stood at £303,677 on average, while detached properties reached an average price of £479,204.
Now let’s compare Chatham property prices with those in London over the last year.
- London’s overall average property price stood at £688,800
- The majority of sales were flats with an average price of £525,882
- Terraced properties had an average price of £776,717
- While semi-detached properties sold for £765,852
This would’t be the full picture if we didn’t mention the price growth over the last year or two. Chatham property prices grew by 6%, and compared to 2019 the prices went up by 19%.
London’s price growth is widely known, but the statistics in this case definitely go in favour of Chatham properties. Compared to last year’s, property prices went up by 4% in London. Again, for the purpose of relevance of this comparison, the prices went by 10% compared to 2019.
What this goes to show, is that just by moving 30 miles away from London you’d be saving a hefty sum of money. Not only that, but you can expect to capitalise on Chatham’s growing property prices.
As a city that shows obvious and undeniable growth year after year, Chatham can be an appealing location for both long-term and buy-to-let property investors.
Chatham is offering affordability, connectivity, and regeneration. All of which goes to show a city that’s truly growing at a phenomenal rate. What’s more, it’s not showing any signs of slowing down.