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Developer activity

The rate of building across England has improved slightly. But building completions remain well below peak levels and West Kent is no exception.

Much of West Kent is rural in nature and large parts of the area are designated Areas of Outstanding Natural Beauty or Green Belt, which restricts residential development largely to urban land.

At 312 homes, the number of building completions in Tunbridge Wells in 2011-12 is 39% below 2006-07 levels according to local authority data. The council expects similar levels of development to continue over the next five years before tailing off after 2018.

Even fewer homes were built in Sevenoaks in 2011-12 and levels are expected to fall again this year before picking up in 2013-14.

Building rates in Bromley this year are less than half of what they were last year although the council expects a sharp increase in production in 2014-2015.

Higher levels of new homes are expected in the Tonbridge and Malling areas where the council forecasts 716 building completions in the same year.

Bromley

The suburban growth of London throughout the mid-20th century means that Bromley is now officially a London Borough. Yet this historical coaching stop between the capital and Hastings, features some of the characteristics of market towns in Kent with a wide range of housing.

Central Bromley is characterised by higher density flats and houses that offer better value for money than Sevenoaks or Tunbridge Wells. Larger homes and luxury properties with price tags over £1 million are to be found around Keston Park and Farnborough Park.

Savills figures show that the average price of a new build home in Bromley is £326 sq ft. However, some schemes can fetch up to as much as £450 sq ft, particularly those aimed at equity-rich downsizers.

Sevenoaks

Despite the fast trains into London, Sevenoaks feels more rural than suburban. Good schools, an attractive high street and the surrounding greenery of the Kent Downs and the High Weald continue to draw and retain affluent homeowners.

The Sevenoaks district has a high proportion of detached homes spread of some 30 villages. Levels of homeownership and education are high. Unemployment is low.

More recently, the majority of new homes have been built within Sevenoaks town, Swanley and Edenbridge and more than half of these properties have less than three bedrooms. The average price of new property in Sevenoaks is £345 sq ft. But given the scarcity of property, higher prices are achievable particularly in quality developments aimed at downsizers.

Tunbridge Wells

Low building levels have contributed to high prices here. Although more than half of the existing housing stock consists of detached and semidetached houses, a large proportion of recently built new homes have been one and two bedroom flats. At £327 sq ft the average price of a new property here is closer in value to Bromley than Sevenoaks. Family housing trends have been low, however we hope to see an increase in these type of schemes following recent progress of some significant development sites.

Taken from
Spotlight: West Kent Residential Development Sales