Gillingham property market sees an unpredicted Autumn boost of 11%.

Well, it doesn’t seem like two minutes ago that it was Christmas – and now it’s all over! One cold December morning, after arranging the office’s Christmas cards I thought I would nip out for a quick festive coffee and mince pie at my favourite local coffee shop, Rochester Coffee Co  I met an old client of mine in the coffee shop and we got talking about the Medway property market. I had just completed my research for my next blog article and I would now like to share with you some of that conversation.

He asked me what my thoughts were about the last half of the year in regard to the Medway property market and if there were any great buy-to-let deals around. In reply I said that, in my view, shrugging off the uncertainty of the initial post Brexit vote, I have seen an increase in supply and a rise in the number of properties selling at the lower to middle end of the market, meaning both first time buyers and buy to let landlords have been returning in the last few months – proof the market is beginning to bounce back.



As my regular readers will know, I am ALL about the numbers, so let’s take a look at those:

In November 2016, according to the three main property portals (Rightmove, Zoopla and OnTheMarket) there were a total of 135 properties for sale in Gillingham (within 1 mile of the centre of Gillingham to be exact). In November 2015, there were only 122 properties for sale, a rise of 11%.

Then, I split the available properties down into bedrooms (notethings like building plots and part commercial/part residential won’t be in these figures, so the numbers below wont exactly match up to those in the above paragraph).


# Properties on the market in Nov 2015
# Properties on the market in Nov 2016
Per cent Change
5+ Bedrooms
12
4
-67%
4 Bedrooms
25
26
+4%
3 Bedrooms
34
51
+50%
2 Bedrooms
36
44
+22%
1 Bedroom
14
9
-36%

Then, when I looked at the type of properties it got even more interesting:

Type of Property
# Properties on the market in Nov 2015
# Properties on the market in Nov 2016
Per cent Change
Detached
34443
43
0%
Semi
14
27
+93%
Terraced
12
22
+83%
Flat
29
18
-38%

As the number of Gillingham properties put up for sale has risen by 11%, homeowners have become more realistic about how much their homes are worth. This increase in homeowners wanting to sell suggests there is renewed confidence in the Medway property market and there are also signs that people are being more realistic about pricing their property.


As you can see, there has been a significant uplift in terraced and semi-detached properties, which means there is greater choice for first time buyers and landlords. So with a combination of realistic pricing and more properties on the market – both first time buyers and landlords alike might be able to pick up a few bargains.

Did you know that you can now get an FREE and INSTANT property valuation, without even having to speak to one of those pesky estate agents? Simply enter some details HERE and in less than sixty seconds you will get a current rental and sales value.

I can be reached via email, contact me with any questions or comments. Until next time, have a great property week!

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