Despite uncertainty in the UK property market, prospective first-time buyers are still looking to begin climbing the property ladder in idyllic UK locations.
One such location is Margate, which is the best-value “picturesque” town in the UK to purchase a home, according to a study in July 2022.
The research combined Instagram data with a survey of more than 2,000 UK adults to compile a list of the most picturesque places in the country. Next, each location’s average local house prices were compared to the respective county and assigned an “affordability” score out of 100.
Margate received an impressive affordability score of 90 out of 100, with average house prices at £286,716, which is 26% cheaper than the average house prices across Kent; also featuring as one of the most photographed locations in the study, with 959,000 Instagram hashtags.
The Times has also predicted that the next affordable and trendy postcode will be Margate neighbours Ramsgate, thanks to its beautiful sandy beaches, Georgian townhouses with sea views, and an influx of creatives.
Learn more about current regeneration areas within the UK by reading our latest Property Market Index report, which ranked Margate as the number one property hotspot for 2023 to 2025.
Property Market Index rates various locations based on property purchasing trends, examining essential metrics associated with purchasing homes in the UK within the current economic climate.
The latest report includes various common metrics, such as house price trends over the last 12 months and three years, while tracking the trajectory of the UK property market, as well as schools, local culture and heritage, regeneration, transport links, and amenities.
Our recent research suggests that despite recent political and economic challenges, the UK’s property market is displaying overall resilience, with over 50% of property investors planning to expand their portfolio in the upcoming year.
Along with Margate, significant regeneration investment areas named in the report include Liverpool, Bolton, Aberdeen, Reading and Margate’s Thanet neighbours Ramsgate.
Read the full new latest Property Market Index report here.