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Invest by the sea, only 45 minutes from London – why Chatham is a buy-to-let hotspot

There is no escaping the problems of London’s property market right now. The housing market in the capital city is broken and the reality is that most of the general population cannot afford to live there. This is naturally the cause of huge problems and will (in the long term) restrict the cultural offering, talent pool and economy of London, which we can only expect to impact the country as a whole.

But with homeowners, renters and investors all taking a step back from London, the opportunity arises for other towns and cities to thrive. This is true particularly of the commuter belt surrounding the capital which has seen people move in their droves to pursue a better standard of living whilst building a career in London. Chatham in Kent is one such area which is enjoying a revival as young professionals are drawn to it, bringing with them fresh ideas, investment and energy.

Located just 45 minutes direct train from London, Chatham is part of the conurbation of Gillingham, Rochester, Chatham, Rainham and Strood which are traditionally known as the Medway towns. Built on a maritime history of shipbuilding, the Medway Towns are one of the largest urban areas in the south east, with a population of 276,422, including 10,000 higher education students.

The popularity of Chatham as a destination for commuters has been recognised with public and private investment that has seen more than £1bn put back into the area in recent years. Boasting one of the most desirable locations in the UK, with the idyllic water on the doorstep and metropolis of London in such close proximity – those living in Chatham really have the best of both worlds. The allure of Chatham has had a direct result on property values, with house prices up almost 45% in the last five years alone according to Zoopla, far higher than the rise seen in London.

You only need to compare the prices of homeownership and renting in Chatham to London to understand why this is one of the best areas to invest in right now. The average price of a property in London is a staggering £671,853 as of March 2018, making a purchase there out of reach for most first time buyers and a large number of investors too. Compare this to the average property price in Chatham which sits as just £252,483 and it’s easy to see why people are choosing to invest there instead.

Similarly, rents in both Chatham and London differ massively. The average rent for a one bedroom flat in Chatham is £636, compared to £1,250 in London. With a year’s train travel between Chatham and London costing just over £4,000, people choosing to commute from Chatham could look at an overall annual saving of £3,200 – a significant figure for many renters who may be looking to save for their own deposit. With this in mind it’s easy to see how the UK’s premier commuter towns can help remedy the growing disparity between millennials looking to fund their first home purchase and investors looking for excellent rental returns and capital appreciation.

For investors, Chatham offers the opportunity for excellent capital appreciation, strong yields and growing tenant demand from those who have no choice but to look outside of the capital to rent.

X1 Chatham Waters is an exciting new residential scheme to be built as part of the larger Chatham Waters masterplan. This plan, which is already underway, has seen the area revitalised and will bring additional retail, leisure and education facilities – creating an outstanding modern dockside community within commuting distance of London.

The development will bring 199 stylish apartments to the local rental market. Each apartment at X1 Chatham Waters will be fully furnished to a high standard and will be fitted with a modern kitchen and bathroom. Glass fronted balconies and floor to ceiling expanses of glass will maximise views over the stunning waterfront and give the development a contemporary and elegant finish.

Apartments at X1 Chatham Waters are in high demand and won’t be on the market for long. Prices start £190,000. Click here to enquire today to find out more about this unmissable investment opportunity >>

 

Source: 19th March 2018 - Knight Knox

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