Home Kent News Ramsgate: The Kent coastal hotspot record numbers of Londoners are moving to

Ramsgate: The Kent coastal hotspot record numbers of Londoners are moving to

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Original article from Kent Live

One Kent town has become a favourite location for Londoners seeking to get away from the bustle and grind of the big city.

And that town is none other than Thanet's own Ramsgate.

According to new data, this might be down to the pandemic and the new shift to home working.

Read more: Notorious Kent Grand Designs 'Eco-barge' now being renovated by new owners

It's likely to be one of the biggest social changes resulting from the COVID-19 pandemic – and has finally loosened the squeeze of the commuter belt, and has allowed more people the choice to move somewhere a little less hectic.

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It might just be driving a major migration from London and other big cities out to the home counties, Kent included.

Data from Hamptons estate agents shows Londoners bought 61,380 homes outside the capital from January to June 2021, the highest figure for any six months since 2006, and compares with 71,860 properties during the whole of 2020.

Freed from the need to live near their workplace by either working from home or less frequent commuting, the capital’s migrants are said to be hunting better value properties with more living space, better work-life balance, less stressful lifestyle, and coastal living.

In many ways, this is understandable – the London property market is notoriously distorted, and moving somewhere further out can cut down the cost of living drastically.

Londoners paid an average of £389,975 for a new property, equating to a total spend of £24.1 billion – more than double the £11.9 billion spent during the same period in 2019.

"Pandemic-fuelled outward migration from cities shows no signs of slowing," said Aneisha Beveridge of Hamptons, adding that while London attracts more buyers now than before the pandemic, the figure is still low compared to those leaving.

As a result, London's population is likely to fall this year and she added: “If current trends continue, we calculate that by the end of this year, Londoners will have purchased 108,000 homes outside the capital."

The view from the Royal Victoria Pavilion balcony in Ramsgate.

This represented a 50 per cent increase compared to the three-year pre-Covid average and the first-time numbers have exceeded 100,000 since 2007.

Overall UK property sales have boomed throughout the pandemic: transactions were up 52% in the first six months of the year compared to the same period in 2019 – and if you focus in on London, that number jumps to 85%.

This is reflected in information published by the Property Market-Index, showing that coastal towns are particularly popular with Londoners fleeing the city.

Index researcher Amanda Collison said a migration to the UK coast had been going on for 15 years, but added:

"The pandemic has had a dramatic impact upon the London property market; London buyers now desire a home with a view of the sea, more open spaces, and a cleaner, less crowded environment.

Three-quarters of Londoners leaving the capital bought a property in the south, with two-fifths buying in the South East.

In a study by the Property Market-Index, Ramsgate actually came out as No1 in the ‘Coastal Property Market for London Buyers Moving to the Coast.'

It was rated highly for fast train links to London, value for money, projected price growth, rich culture and heritage, golden sandy beaches and many good quality schools.

There's also been huge local investment, as highlighted by Ramsgate property developer Blueberry Homes’ £50 million luxury beachfront apartments development, Royal Sands Ramsgate, including a boutique hotel, leisure, and retail alongside the beachside promenade.

Ramsgate has it's own historic harbour, and many more attractions.

Royal Sands Ramsgate, Blueberry Homes £50 million luxury beachfront apartments development

A company spokesperson said: "We have had cash buyers coming from London and buying straight off-plan.

"The whole of the first phase sold within six months, and we are now halfway into selling the second phase. There is great value for money, and it is just one hour from London on HS1."

It isn't just Londoners snapping up extra properties for weekend escapes, either, explains Hamptons researcher Aneisha Beveridge:

"While second home buyers and investors have been spurred on by the stamp duty holiday, much of the uplift in Londoners looking outside the M25 over the last year has come from those buying their first home.

"This has been largely driven by affordability and flexible working patterns that have enabled people to work from home. The capital's loss has been the Home Counties gain.”

Original Article