I have recently been helping a Landlord who has invested in rental properties throughout Thanet and was interested in extending her portfolio, but as a side project she asked me about the property market in her home town of Sandwich. Now we don’t actually cover that area with our property management service but I was more than happy to look into the market and see how it has been performing.
What I found out was quite interesting. The average value of a property in Sandwich is £284,942 which is £48,523 above the average of its neighbouring town of Deal. The most expensive street in Sandwich is St. Georges Place where an average property is worth in excess of £700,000. Only 13 properties have been sold in this street since the summer of 1995.
The most expensive property sold in Sandwich was a fantastic property on Strand Street, which sold for £757,000 in 2008. Quite recently, in April in fact, another property in Strand Street became the second most expensive property in Sandwich at £740,000. The average rent in Sandwich over the last 3 years has been £740 per month. According to land registry 103 properties have been sold in the last 12 months. Overall sale prices in Sandwich were up 11% on the previous year and 4% higher than the peak of 2007, this is slightly better than Deal who boast a 10% rise in the previous year and a 3% increase on the 2007 levels.
If you would like to come and discuss property in the area or need some advice on investing in property across the Isle of Thanet then you are welcome to visit our office in Margate or pick up the phone and give me a ring.
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