A town in Kent has been identified as a hotspot for the county’s fastest increasing house prices. Tunbridge Wells does not have the county’s most expensive homes, but it is home to the largest annual change in house prices.
The average house price in our county was £350,090 in the 12 months to October, according to the latest figures from the Land Registry. That’s an increase of 1.7 per cent compared to a year earlier, equivalent to an extra £5,910 on each home.
But it’s also worse than the UK average, with prices rising by 3.4 per cent over the last year to £292,059. Tunbridge Wells has seen more growth in property prices than anywhere else in Kent.
The average house price there rose by 8.1 per cent or £35,835 over the last 12 months to £479,443. And it’s easy to see why people might want to live in Tunbridge Wells.
In 2024, the spa town was voted the best place to live in all of Kent by the luxury lifestyle website Muddy Stiletto’s with The Pantiles, the ease of travel to London, and its “growing foodie scene” being mentioned. The parks, independent shops, galleries and bars were also highlighted as great things about Tunbridge Wells. And its “exceptional schools including many prestigious grammars” were also mentioned.
Meanwhile in Maidstone, house prices increased by 3.7 per cent to £343,297, while in Swale they rose by 3.0 per cent to £292,247.
Prices fell in four local authorities in Kent though – Canterbury (0.2 per cent), Thanet (0.4 per cent), Dartford (1.6 per cent) and Dover (2.4 per cent). You can see how prices have changed in your local area by using our interactive map below.
The Shetland Islands is the UK’s property hotspot. The average house price there is £225,587.
That’s 28.2 per cent higher than a year earlier, which is a larger jump than any other local authority in the country, and works out as an extra £49,601 per house. Tewkesbury has seen the next largest growth in house prices, with the average property costing 12.6 per cent more than it did a year earlier.
That’s followed by Bridgend (10.8 per cent), Blaenau Gwent (10.6 per cent), Blackburn with Darwen (10.5 per cent) and Pendle (10.4 per cent). Prices are falling in many areas though, with parts of London experiencing the biggest drops in the country.
The average home in Kensington and Chelsea cost over £1.1 million in the year to October. That’s a fall of £285,480 per house compared to a year earlier, which works out as a drop of 20.3 per cent and is the largest of any local authority in the UK.
The City of London has seen the next largest drop with homes costing 18.3 per cent less than a year earlier, equivalent to £160,166 per house. Hammersmith and Fulham has the next largest drop at 10.5 per cent, equivalent to £86,825 per home.
North Devon has seen the next largest fall in average prices at 7.8 per cent, followed by Camden with a drop of 6.2 per cent, Gwynedd with a drop of 5.1 per cent, the Isle of Wight with a drop of 5.0 per cent, Islington with a drop of 4.9 per cent and the City of Westminster with a drop of 4.4 per cent. Manchester – often seen as the North’s property hotspot with skyscrapers popping up all over the city – has also seen a drop in average prices.
The average house in the city cost £253,061 in the year to October according to the Land Registry data. That’s a drop of 2.3 per cent compared to a year earlier, equivalent to each house costing £5,981 less.