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Sevenoaks House Prices Draw First Time Buyers

28/06/2018

Sevenoaks house prices have been steady in the last year* but a more forensic examination shows that the housing market there currently favours first time buyers despite the location being traditionally associated with home movers and older home owners.

First time buyers generally look to buy flats and maisonettes rather than larger properties and it's notable that flats and maisonettes in particular only rose 2.7% in price in the last year against an overall average yearly rise of 5.36%. Flats and maisonettes of all property types exhibited the lowest yearly price rises in the latest 3 months' available figures.

The average sold price for a first time buyer property is £341,978 an increase of 5% over the year.

Sales volumes, as in so many other places in the UK, are at their lowest level for a year, at 102 (for February 2018, most recently available monthly figures), and this is a decline year-on-year of 20%. Enterprising estate agents in the area may well recognise the area's interest to first time buyers and further adjust their pricing strategy accordingly.

North Sevenoaks Masterplan

Sevenoaks is set to benefit from considerable investment from Sevenoaks Town Council. The Council's Northern Sevenoaks Masterplan is set to spend an additional £15 million in the area over the next 15 – 20 years on many projects, including plans to build 400 affordable homes and should see the creation of 170 additional jobs.

Sevenoaks Property Prices 2018

Detached:	£762,290
Semi-detached:	£426,859
Terraced:	£330,690
Flats/Maisonettes:	£244,437
Average:	£429,349
Cf. 2017	+5.36%

Land Registry 2018

Read on for more news regarding Sevenoaks' property scene. Click here to find out more about buying a home in Sevenoaks

* All house price data used in this article is from the Land Registry unless stated otherwise. Latest monthly pricing figures are for April 2018, latest sales volumes are for February 2018.

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Sevenoaks Property Overview

Situated in the High Weald of Kent, Sevenoaks is surrounded by some of the most attractive countryside in South East England and has a picturesque blend of historical buildings of all shapes and styles.

At the town’s heart is the historic Knole House, built in the late 15th century. Property in the Sevenoaks area ranges from rural cottages set in glorious Kent countryside to town houses conveniently located for access to the station and from beautiful country estates to large family houses in private roads.

Sevenoaks has excellent communications links with the M25 and M26 close by and Sevenoaks Station offering fast travel into London's centre - London Bridge is only 24 minutes away by direct train.

Click to find out RICS Surveyor tips for Sevenoaks and how to book a home buyers survey for properties in and around the location

Off-Plan/New Build/Help to Buy

Off-plan developments include:

Bourchier Court

Help to Buy is available at this development, which is located 3 minutes away from Sevenoaks Station and consists of 2-bedroom apartments.

Ryewood

Help to Buy is available at this development, which consists of 2,3,4 and 5 bedroom apartments as well as houses and townhouses.

Shared Ownership

Shared ownership resale properties can be found The Sidings, 2 bedrooms, from £135,000 (Dunton Green) and Watercress Drive, maisonette – 1 bedroom, from £107,500.

Rental Scene

Average rental prices in Sevenoaks in June 2018 were £1,747 per calendar month and the rental price range varies from £850 - £4,325 per calendar month.