A new official report by the Office for National Statistics, suggests that the number one factor for higher property prices in towns across England and Wales is the distance a home is from London. Followed by the type of jobs carried out by residents and the level of income deprivation in a town.
The ONS said that this threshold could represent a commutable distance, although travel time, distance travelled and cost will not be exactly related to straight-line distance.
Since the pandemic began, more and more people are looking to leave the cities and busy urban areas and relocate to coastal towns. When looking for their next move the ONS data suggests people still want to be within a commutable distance to the city.
Working from home has become the new norm, meaning it is easier for those working in London to live further away from the city if they only must go to the office a couple of days a week.
Ramsgate ranked as No1 in the ‘Londoners by the Sea’ Property Market-Index Report 2021. The town scored highly in our report for its strong transport links to London, value for money, price growth, cleanliness and beaches, culture and heritage, and education. Close by town Margate ranked 2nd.
Thanet (Ramsgate, Margate and Broadstairs) continues to top the charts for homebuyers relocating from London and other cities. The towns have strong transport links to London with the HS1 fast train.
In Ramsgate, the new £34 million Thanet Parkway Railway Station will reduce the Ramsgate to London travel time to just under one hour when it opens later this year.
Margate has seen the highest 10-year percentage rise in house prices of all seaside towns in the UK, over 100% and Ramsgate has seen a 92% rise in house prices over the last decade.