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Folkestone and Sevenoaks: Two Kent towns where rental prices have gone through the roof

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Original article from Kent Live

Two Kent towns have seen the steepest increase in rental prices across Britain over the last year as the COVID-19 pandemic continues to reform the housing landscape.

The rise of homeworking and need for space at home as seen many Londoners up sticks and leave the capital in search of a slower-paced life in neighbouring counties.

For locations, such as Kent, that has had a knock-on effect when it comes to the price of rentals.

Read more: The Sussex town 45 minutes from Kent named the most ‘naturally beautiful’ in England

Both Folkestone and Sevenoaks are included in Rightmove's ranking of the Top 10 towns by rental price increase.

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Folkestone came out second on the list with an average asking rent price of £1,144 per calendar month in June 2021.

Rewind a year, and that figure was just £902 back in June 2020, meaning a 26.7 per cent annual change.

Only Rochdale in the North-West saw a higher change at 32.7 per cent.

It's getting expensive to rent in Folkestone

Joining Folkestone on the leaderboard is Sevenoaks, which comes in fifth place.

£2,368 is the average price per calendar month in the town, which is a 19.3 per cent increase from June 2020's £1,985.

Rightmove property expert Tim Bannister said: "This is likely fuelled by some tenants signing longer leases last year and also perhaps by a rush of people who chose to move back in with family last year, who are now making plans to rent again and in many cases starting to think about their new daily commute.

Rentals in Sevenoaks are also on the rise

“We’re also starting to see signs of London rents creeping up again, but they’re still lower than two years ago so it will take time.”

Across the UK, the number of people contacting estate agents about letting properties has increased 10% over the past 12 months.

The Top 10 towns that have felt this increase in rental prices are as follows.

1. Rochdale 32.7 per cent

2. Folkestone – 26.7 per cent

3. Farnham – 19.8 per cent

4. Altrincham – 19.7 per cent

5. Sevenoaks – 19.3 per cent

6. Bognor Regis – 18.8 per cent

7. Hockley – 18.4 per cent

8. Blackpool – 18.1 per cent

9. Camberley – 17.3 per cent

10. Shrewsbury – 16.7 per cent

Original Article