Together with Caxtons Chartered Surveyors, Ashford Borough Council has launched the Ashford Property Market Report for 2019/2020. It provides an in-depth analysis of the borough’s office, industrial, retail, leisure and tourism and residential property markets.
Having first invested in Ashford in 2017, GRE Assets are strong champions for the town, having identified the opportunities it presents. Our Riverside Park development, which once complete will encompass 246 apartments, 26 townhouses and a new public realm, is a key part of the ongoing regeneration locally. In light of this, it is featured as one of the cornerstone residential projects within the report.
Below, we have compiled the key findings from the residential section of the Ashford Property Market Report 2019/20 and what they mean for those considering investing in the area.
Increase in average residential value
The residential property market in Ashford has continued to grow, with the average residential value up 22% over the last five years. Given the challenges Brexit and Covid-19 has posed to the UK housing market this is positive. A solid appreciation for house prices in Ashford is an alluring appeal to investors, who can remain confident of strong returns.
House prices are more affordable than the county average
Compared to the average home selling for £350,000 in Kent, the average residential value in Ashford is lower at just under £332,000 at the end of 2019. This relative affordability is a big appeal and has sustained a strong demand, especially from first time buyers, who have also benefited from Help to Buy schemes and fast commute times to London. Lower prices compared to the county average combined with the continued increase in value is good news for anyone buying property in Ashford.
Net housing completions increase
Ashford housebuilders remained active in a tough market in the 2018/19 financial year, with 880 net housing completions, which represented a 53% increase on the previous period. There were an additional 1,182 homes under construction, including some of the apartments and townhouses at Riverside Park. With ongoing challenges with housing stock in the wider UK market, a strong supply in Ashford is extremely promising, as it means there are significant investment opportunities.
GRE Assets is delivering a multi-million pound residential development in Ashford, Riverside Park.