Get a Quote

Call us Now!

House Prices in Kent

Here we have the best breakdown of Kent house prices, with fresh information added every month.

Insight: The Housing Market October 2023

The latest Halifax Price Index report once again showed a fall in house prices, but the rate of decline slowed compared to the previous month. Despite the downward trend, which is anticipated to remain for some time yet, the housing market is notably resilient. Prices remain considerably above pre-pandemic levels and, with strong wage growth continuing, affordability remains.

Overall, while the amount of movement in the housing market is easing and will continue to do so, there remain valuable opportunities for those looking to buy and sell at this time. Things are particularly improving for first time buyers who will now find they need smaller deposits to get onto the property ladder.

Read on to learn more about the latest data for the UK and in Kent.

The headline stats and facts

  • Average selling price: £278,601 (-0.4% monthly change).
  • Property price increases: Annual rate of growth is -4.7%.
  • Interest rates: 5.25% (remaining stable, after 14 consecutive increases representing the “fastest monetary policy tightening in recent history”).
  • Inflation: 6.657% (continuing to edge back downwards but still a long way from the Bank of England’s 2% target).
  • Kent stats: Kent property currently spends an average of 148 days on the market (up from 121 days a year previously). There are 47% more properties on the market than in September 2022. The average selling price in Kent is nudging downwards and is now £436,456. Nonetheless, house prices in Kent were 3% up on the previous year and 13% up on 2020 when the average house price was £385,840.
  • RICS net balance score: New buyer enquiries have remained broadly consistent at -47%. However, indicating considerably less movement in the market overall, new instructions now stand at -26% (previously -17%).

What does this mean?

Realistically, the market is subdued and will continue to experience drops in house prices likely well into 2024. We’ve now seen six consecutive months of prices falling. However, last month was a considerably smaller fall than the month before. Interest rates have held steady for a few months, and while this takes time to be reflected in market movements, it will help buyer confidence.

It’s also important to recognise the resilience of the housing market. While falls were always inevitable, prices remain robust in practice. On average house prices are still £39,400 higher than in March 2020. The pace of growth during the pandemic has allowed some cushioning as the effects of economic tightening occur.

Experts generally feel that the Bank of England base rate is now around the peak it will reach. This will take time to filter through to inflation, allowing it to drop closer to the Bank of England’s 2% target. However, with greater predictability and fewer interest rate rises now anticipated, buyers should regain some confidence. Particularly, first time buyers may find now is a good time to consider their first purchase, in turn allowing greater movement up the levels.

What about Kent?

As is often the case, the South East continues to lead the national trend in house price falls, falling by -5.7% in the last year. The average house price across the region stands at £376,450. However, Kent remains considerably higher overall, with an average price of £436,456.

Your house move

We’re here to make moving day the stress-free part of the process, whether you’re a first-time buyer, buying somewhere bigger, or looking to downsize. For a quote, please call 01622 672217.

Get a Quote!
Call us in office hours or leave your details on our contact form.

We can give you a formal quote based on a free home survey which can be carried out on weekdays, including weekday evenings. Otherwise, depending on your circumstances, we can give you a quote based on a detailed list. 
Contact Form 1
Local or Long Distance
We move people from Kent all over Great Britain
Postal Address:
Philip Marks Removals,
44 The Street, Detling, Maidstone, Kent, ME14 3JT

01622 672217

Office Opening Hours
Monday – 9.00am to 5.00pm
Tuesday – 9.00am to 5.00pm
Wednesday – 9.00am to 5.00pm
Thursday – 9.00am to 5.00pm
Friday – 9.00 to 5.00pm
Saturday – closed
Sunday – closed
01622 672217