The Kent areas where house prices have fallen the most
The average price of a home dropped in various parts of Kent between April and May this year (2023) – according to the latest figures from the Land Registry. The steepest fall happened in Canterbury, which saw the fourth biggest reduction out of all regions across the UK – at 4.4 per cent.
House prices have fallen across eight out of 13 areas in Kent. However, Swale saw a significant increase of 5.5 per cent in just a month, with the average house price rising from £296,292 to £312,501.
Across Kent as a whole, the cost of houses fell by 0.6 per cent, from an average of around £365,353 in April to £363,341 in May. See below for the ups and downs of house prices across Kent.
CANTERBURY
Average house prices in Canterbury fell by 4.4 per cent between April and May from £388,163 to £371,041. The only city in Kent recorded the highest fall in house prices in the county and the fourth across the UK.
SEVENOAKS
Canterbury was followed by Sevenoaks which had the second largest fall in house prices in Kent. It dropped from £528,507 to £511,850 for the same period.
Sevenoaks had the highest average house prices in Kent in May followed by Tunbridge Wells with £457,896.
MAIDSTONE
With a drop of 2.2 per cent between April and May, Maidstone saw the third largest fall in house prices. It went from £360,771 to £352,690.
TUNBRIDGE WELLS
The second most expensive area in Kent to buy a house had its average house price rise. The average was £457,896 in May, a one per cent increase compared to the previous month (£453,142).
ASHFORD
Ashford has also recorded a one per cent increase in between April and May of this year. The average cost of a house increased from £357,889 to £361,530.
MEDWAY
Medway is the only area in Kent where it would cost less than £300,000 on average to buy a house. The average price barely increased by £45, from £293,096 to £293,141.
SWALE
Swale saw the largest increase in Kent at 5.5 per cent, smashing through the £300,000 mark. It went up from £296,292 to £312,501.
DARTFORD
Dartford saw its average house prices fall by 0.2 per cent, from 357,115 to £256,260.
THANET
Thanet was among the areas that saw an increase between April and May. While in April a house would have cost around £312,676, it cost £314,018 in May.
DOVER
Dover is one of the cheapest areas in Kent to buy a house. In May, it cost £323,974 to purchase a property, down from £326,323 (0,7 per cent).
FOLKESTONE AND HYTHE
In Folkestone and Hythe, average house prices fell by 1.3 per cent from £334,171 to £329,927. However, it remains higher than the average prices at the same time last year – £315,963 in May 2022.
GRAVESHAM
The average house prices remained fairly the same between April and May of this year. It fell by 0.1 per cent from £334,885 to £334,413.
TONBRIDGE AND MALLING
Tonbridge and Malling is the third highest area to buy a house in Kent. In April, a house would have cost around £446,757 which has dropped by 1.4 per cent in May to £440,551.
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References
- ^ Six Northfleet houses severely damaged as fire rips through homes (www.kentlive.news)
- ^ HERE. (data.reachplc.com)