Investing in Chatham’s Real Estate: There is no place to escape the devastation of London’s property market. The housing market in the capital is broken and the reality is that most of the general population cannot afford to live there.
Chatham in Kent is an area that is enjoying a revival as young professionals are drawn to it, bringing with them new ideas, investment, and energy.
This is naturally going to create big problems and will restrict London’s cultural offering, talent pool, and economy, which we can only hope to affect the entire country.
But with homeowners, renters and investors all taking a step back from London, opportunities arise for other towns and cities. This is especially true of the commuter belt around the capital, which has seen people step into their sacks to pursue a better standard of living while pursuing a career in London.
Located only a 45-minute direct train from London, Chatham is part of the abbots of Gillingham, Rochester, Chatham, Rainham, and Strode, which are traditionally known as the towns of Medway. Built on the maritime history of shipbuilding, Medway Town is one of the largest urban areas in the Southeast, with a population of 276,422, including 10,000 higher education students.
Chatham’s popularity as a destination for travelers has been recognized with public and private investment, which has invested more than £1bn in the area in recent years. One of the most desirable places in the UK, with idyllic water on the doorstep and so close to the metropolis of London – those living in Chatham have the best of both worlds.
Chatham’s attractiveness has had a direct impact on property values, with home prices increasing by nearly 45% over the past five years, far more than the increase seen in London.
You only need to compare homeownership and rent prices in Chatham with London to understand why it is one of the best areas to invest in right now. The average price of a property in London as of March 2018 is an astonishing £671,853, making it out of reach for first-time buyers and a large number of investors. Compare this with the average property price in Chatham, which sits at just £252,483 and it is easy to see why people are choosing to invest there instead.
Similarly, there is a considerable difference in fares in both Chatham and London. The average rent for a one-bedroom flat in Chatham is £636, compared to £1,250 in London. With train travel between Chatham and London costing over £4,000, those traveling from Chatham could see a total annual savings of £3,200 – many renters want to save on their deposits. want to do.
With this in mind, it is easy to see how the UK’s major commuter towns can help address the growing disparity among millennials who are looking to buy their first home and investors looking for excellent rental returns and capital appreciation. . . . The middle is growing.
For investors, Chatham offers an opportunity for excellent capital appreciation, strong returns, and rising tenant demand from those who have no choice but to look to outside capital for rent.
Investing in Chatham’s Real Estate
The median home price in Chatham-Kent in August was $237,900, which is below average compared to the rest of Ontario.
The most common one-bedroom property to be listed in Canada in August is 3 bedrooms with the lowest number of bedroom properties on the most common listing in this neighbourhood.
According to our statistics, Chatham-Kent is the neighbourhood with the 114th highest number of properties available to real estate investors in Ontario.
Will the prices increase next year in Chatham-Kent? There are many real estate indicators to consider.
The volume of homes for sale in the neighbourhood has fallen over the past three months – meaning that supply and demand economics will mean that the pressure on home prices has increased as well.
A solid real estate market
Right now, the average house price in Chatham-Kent is rising, especially in December 2020. According to the Canadian Real Estate Association, home sales in December 2020 were 37 percent higher than the number of homes sold in December 2019.
The annual 2020 median home price came in at $310,244 – a 23.4 percent increase over 2019 – while home prices hit an all-time high of $344,951 in December. This could be due to a general shortage of inventory, but other real estate developers are joining the deal. Overall, the majority of Chatham-Kent residents live in detached single-family homes.
The rental market is also up, though not as dramatically—one-bedroom apartments average less than $1,100, up to six percent from 2019. About three-quarters of the population owns a house versus a rented one.
‘Canada’s Classic Car Capital’
Although Chatham-Kent is a quiet, rural area, there is still much to see and do. As previously mentioned, the area is home to many important Underground Railroad historic sites – a unique opportunity to see and experience a fascinating, important part of Canadian and the United States history. There are several local museums, including the Chatham-Kent Museum, which focus on the overall history of the area.
If you love classic cars, you are in luck. Chatham-Kent has been nicknamed the Classic Car Capital of Canada and is home to vintage automobile auction houses and restoration companies. Every year, the annual Retrofest brings hundreds of classic car lovers to Chatham.
Finally, like most parts of Ontario, there are plenty of outdoor recreation opportunities out there. Swimming, kayaking, boating, hiking, and more are possible in the area’s rivers, lakes, and provincial parks.
Chatham-Kent is an area with lots of small-town charm and prices—but the affordability can’t last. Now is the time to invest in this rapidly growing rural area, which is located within easy driving distance of many major cities.
Real Estate Professionals in Chatham-Kent
We’ve searched high and low for real estate investing professionals in Chatham-Kent. Below, you can find the professionals we’ve researched and can confirm are experts in working with real estate investors.
To ensure maximum success in Investing in Chatham’s Real Estate-Kent or any city, you should always use professionals who understand and work with investors who depend on your income.
If you thinking about Investing in Chatham’s Real Estate then visit https://www.medway.gov.uk/
