Margate sees property asking prices rise mostsince the Diamond Jubilee


Margate is the Queen’s Jubilee property hotspot, having seen the biggest rise in asking prices since the Diamond Jubilee ten years ago.

The Kent hotspot has seen typical values more than double during the decade from £148,000 to £308,508 – an increase of more than £150,000, according to Rightmove.

It comes as people across the country prepare to mark the Queen’s Platinum Jubilee over the four-day weekend from tomorrow, with a series of events from Trooping the Colour to street parties.

Rightmove has revealed the places where property asking prices have increased the most during the past decade

Margate is the Queen's Jubilee hotspot, having seen the biggest rise in property asking prices since the Diamond Jubilee ten years ago, according to Rightmove

Margate is the Queen’s Jubilee hotspot, having seen the biggest rise in property asking prices since the Diamond Jubilee ten years ago, according to Rightmove

It is followed by Brislington, an area within the city of Bristol, where asking prices have risen 104 per cent from £166,192 to £338,800.

And Dover in Kent takes the third slot, with asking prices increasing 101 per cent during the past 10 years to £261,474.

The Kent hotspot of Margate (pictured) has seen typical values more than double during the decade from £148,000 to £308,508 - an increase of more than £150,000

 The Kent hotspot of Margate (pictured) has seen typical values more than double during the decade from £148,000 to £308,508 – an increase of more than £150,000

Mark Brooks, of Miles & Barr estate agents in East Kent, said: ‘It is no surprise to us to see Margate top the list of areas that have increased in price the most over the last ten years. 

‘Margate provides prospective buyers with the opportunity to live in a picturesque town with stunning views of the sea, and with travel time back to London taking less than 1 hour 30 minutes to St Pancras station, it is a place that allows many to either solely work from home or have a hybrid working solution. 

‘Developments such as the Turner Gallery and Dreamland, alongside investments by Kent County Council, have brought new energy to the town and they also have attracted tourists to Margate which increases the local economy. 

‘Margate is also becoming more well-known and attractive to potential buyers due to the film industry as ‘The Empire of Light’, a film directed by Sam Mendes, was recently shot in Margate.’

This three-bed house in Margate, Kent, is on the market for £595,000 and is being sold by Miles & Barr estate agents

This three-bed house in Margate, Kent, is on the market for £595,000 and is being sold by Miles & Barr estate agents

JUBILEE PROPERTY HOTSPOTS WHERE ASKING PRICES HAVE RISEN THE MOST IN THE PAST TEN YEARS
Location Region Average Asking Price April 2022 Average Asking Price April 2012 % change
Margate, Kent South East £308,508 £148,763 107%
Brislington, Bristol South West £338,800 £166,192 104%
Dover, Kent South East £261,474 £130,265 101%
St. George, Bristol South West £293,269 £146,344 100%
Broadstairs, Kent South East £481,465 £240,695 100%
Minster-on-Sea, Kent South East £337,338 £169,045 100%
Patchway, Bristol South West £304,606 £153,472 98%
Pitsea, Essex East of England £296,350 £149,616 98%
Bedminster, Bristol South West £369,328 £186,846 98%
Houghton Regis, Bedfordshire East of England £298,999 £151,359 98%
Source: Rightmove  
This two-bed terrace in Brislington, Bristol, is for sale for £350,000 and is being sold by Eveleighs estate agents

This two-bed terrace in Brislington, Bristol, is for sale for £350,000 and is being sold by Eveleighs estate agents

This four-bed detached house in Dover, Kent, is for sale for £650,000 and is being sold by Andrew & Co estate agents

This four-bed detached house in Dover, Kent, is for sale for £650,000 and is being sold by Andrew & Co estate agents

Areas in the South West and the South East make up the majority of the top ten hotspots, with four locations each.

However, areas in the East of England have seen the biggest jump in asking prices overall at an average of 63 per cent.

Meanwhile, in London, Rightmove analysed the rise in asking prices in areas along the Jubilee Line on the London Underground – the line that is named after the Queen’s Silver Jubilee in 1977.

Stratford topped the list, with asking prices for homes near the station more than doubling on average, up 102 per cent from £238,150 to £480,271.

West Ham came second, increasing 99 per cent, while Wembley Park was third with values up 78 per cent.

Stratford (pictured) topped the list for areas in London around the Jubilee Line on the Underground, which is the line named after the Queen's Silver Jubilee in 1977

Stratford (pictured) topped the list for areas in London around the Jubilee Line on the Underground, which is the line named after the Queen’s Silver Jubilee in 1977

LONDON JUBILEE HOTSPOTS WHERE ASKING PRICES HAVE RISEN THE MOST
Location Average Asking Price April 2022 Average Asking Price April 2012 % change
Stratford £480,271 £238,150 102%
West Ham £420,365 £210,992 99%
Wembley Park £514,172 £288,938 78%
Neasden £530,198 £310,222 71%
Kingsbury £548,848 £321,332 71%
Source: Rightmove     

Rightmove’s Tim Bannister said: ‘In a momentous occasion for the Queen, it’s interesting to see the areas where house prices have risen the most since the last jubilee celebration. 

‘Homeowners in Kent are some of the biggest winners in this decade study, with four locations in the top ten, while for buyers, it’s easy to see the appeal in moving to an area near the coast for less the national average asking price. 

‘Bristol also emerges as a key hotspot, with four areas of the city also making up the top ten. With working patterns very different to that of a decade ago, it will be fascinating to see market dynamics in ten years from now, particularly in cities such as Bristol which may continue to attract more people who may have traditionally headed to London.’

Read more at DailyMail.co.uk