Why Margate has snatched our attention for property development

October 10, 2019

About Margate

This traditional seaside town plays host to the classic features that give holiday destinations on the English coast their own unique charm and beauty.

Margate has managed to widely avoiding the British beachside stereotype by showcasing its original vintage attributes with pride, combining them with modern, edgy developments that delicately pull the area into the 21st century.

Appreciating the characteristics that originally put them on the map, while tirelessly creating new reasons to love this town has boosted its popoularity immensely.

Developers target the area´s booming property market, families relocate for the peaceful lifestyle, tourists visit for the retro vibe and commuters come for the close proximity to London.

Why London commuters are relocating

Kent has always had decent transport links with London, and now the journey has become even easier since the HS1 high-speed rail link was constructed. Now, some areas, such as Margate, are within an hour of the capital city.

But this stylish seaside town is attracting London commuters for many more reasons than just its location.

Buyers are able to live in an area relatively close to their work that offers them a more tranquil, smog-free way of life. They can get away from the hectic hustle and bustle of the city and reside in a fashionable, family-friendly town that offers all of the amenities they need and want.

“Thanet is the main hotspot of east Kent due to its large number of Blue Flag beaches, ease of access to London, and affordability,” says Edward Church of agent Strutt & Parker. “We have seen record prices for anything with a good sea view.”

Margate´s property market

Margate is still one of the most afforable towns when compared to surrounding areas, however, prices are growing at a considerable pace.

According to Halifax, coastal house prices across the nation have risen by 29 per cent on average during the last decade. But Margate in particular has seen immense increases.

Although the average house price is still under £240,000, prices have soared by an average of 55 per cent in 10 years. The rest of Thanet followed closely behind, with a 48 per cent average increase in prices in the last decade.

Halifax managing director Russell Galley said: “Seaside towns are highly popular places to live, offering sought-after scenery, lifestyle and good weather.

“Being by the seaside does come at a price, with the overall marked increase in house prices reflecting the demand for rooms with a sea view.”

The local economy

Thanet´s tourism sector has been growing rapidly over the last few years, on average the district welcomes approximatley 4.2 million visitors which has made the industry worth £319million.

Tourism has been supported greatly by the high amount of developments created to specifically bring more visitors to the area.

Thanet is a hub for talented and creative individuals. The area has seen an 84 per cent growth in creative business over the last four years, while the town of Margate has seen a 71 per cent increase in art studios.

Dreamland is a vintage British seaside amusement experience with historic rides and classic side shows, offering an exciting calendar of festivals and events.

Nearby is Margate’s Old Town which rejoices in a cultural vibe, showcasing chic eateries, galleries and vintage shops mixed with traditional seaside delights.

For more than 100-years, Margate’s Winter Gardens has attracted famous performers like the Beatles and the Kaiser Chiefs. The town’s Theatre Royal is the second-oldest in the country, while the Tom Thumb Theatre is one of the smallest theatres in the world.

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