Property in Kent set to weather storm

Thursday, 13 March 2008 12:00 AM

Property in Kent is well placed to weather the storm currently gathering over the UK property market, according to property consultant Cluttons.

With strong transport links to London and the south coast, some areas of the county have been benefiting from sustained price rises in recent years.

However, increases have been a closer reflection of property values than in some surrounding areas - and as such Kent is now in a position to emerge on a path of continued growth should prices see a blip.

"I think one of the advantages Kent might have in the next year or so is prices haven't gone up quite as much, they haven't been as crazy as in Guildford and places like that," said James Best-Shaw, a partner with Cluttons.

"It may be that if there is a price adjustment you might see perhaps five per cent come off in Kent whereas you could easily see 20 per cent come off elsewhere."

The consultancy also finds there is a readymade market in the county waiting for good value properties to emerge on the market.

In the mid-term this should ensure sufficient demand to prop up prices amid a wider slump.

"There are so many people sitting in rented accommodation who are looking for houses for £500,000 upwards and they think they deserve a bargain," explained Mr Best-Shaw.

"If you offer them just a little bit of value they'll come in very strongly because they don't want to sit in rented forever, they want to get on with their lives."

While investors have customarily looked to the towns of Sevenoaks and Tunbridge Wells, these are perhaps not the best investments in the present climate.

Prices have increases dramatically in these towns and could now fall dramatically.

In response Cluttons is urging to buyers to consider up-and-coming locations such as Ebbsfleet, which is only 20 miles from London and surrounded by countryside.

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