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Wednesday June 2 | 2021
OF TUNBRIDGE WELLS
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n Number of Londoners jumps four-fold
By Richard Williams and Lottie Bulmer THE property market in Tunbridge Wells and the surrounding areas is ‘one of the hottest on record’ with homes selling within a week or even hours of going on the market. Previously sales might have taken several months. Research over the past week by the Times shows houses being snapped up, sometimes before they are even advertised, due in part to an influx of buyers from London creating a shortage of family homes. The clamour for properties in Tunbridge Wells comes after house prices in the Borough have increased by more than 50 per cent over the last decade. In the last year alone, they have risen on average £32,000 with the average home in the TN1 postcode now costing £535,000, according to online estate agent Zoopla. Now estate agents have told the Times
how a shortage of family homes is seeing the average family home in Tunbridge Wells selling within a week, with some selling in a matter of days, and even hours. Deborah Richards who run Maddisons Residential on The Pantiles said the average selling time for a family home in Tunbridge Wells is now seven days.
‘We’ve had properties sell within hours, some before they’re even advertised’ “From the time a house is available to view, we begin fielding offers over the next few days and I’d say from end to end you are looking at a week to make the sale,” she said. “In some cases, we are selling above the asking price or having to take sealed bids because we get so many offers.” But people living in the area looking to
upsize now face ‘eyewatering mortgages’ estate agents admit, as demand for living in the area increases. “I feel very sorry for the youngsters. I regularly see people with a £650,000 mortgage now say they want more space, or somewhere to park their car, but they are going to be looking at a million pounds,” said Deborah Richards, adding much of the demand is being driven by Londoners. “Typically, Londoners have liked moving to the area around The Pantiles or St John’s but we are seeing more and more look to the villages now that commuting is no longer that important for people,” she said. “Wadhurst is now very popular, as is Frant, Penshurst and Speldhurst because you get more bang for your buck in those areas, more space and larger gardens.”
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