Friday, 20 September 2019

What’s the biggest street in Margate (CT9)?

Well my recent articles about Margate’s most moved street in the last 3 years and the Monopoly board article (the one where I listed the most valuable streets) caused quite a lot of interest locally, so I decided to see what else I could find out about the CT9 postcode area, and I have been able find out the biggest streets in the Margate (CT9) postcode area.

Don’t worry, I will get back to some hard-hitting articles about the lack of new homes being built in Margate, the trials and tribulations of being a Margate buy-to-let landlord and the future of the Margate property market .. yet in this article because of the previous positive comments, I wanted to give you what you, the Margate homeowners and Margate landlords asked about and wanted!

The biggest street in CT9, when it comes to the number of houses on it is Canterbury Road, with 625 homes. In second place is Ramsgate Road with 497 homes and in third is Northdown Road with 493 homes.

Not surprisingly, the most valuable street of the top 20 biggest streets is Canterbury Road at £133.6m with an average value of £214,000 per property.

The street with the greatest number of movers in the last 3 years is also Canterbury Road, yet its saleability rate was only 15.7%, with Harold Road having the highest saleability rate of 19.1%.

The full breakdown can be found in this chart below.

Yet, did you really think I wouldn’t get at all serious ..

The basic rudiments of the Thanet property market remain principally healthy in many parts of Thanet, yet the existing political environment means that the vital element of confidence has been diminished slightly in certain parts, and that is triggering a minority of potential property purchasers and house-sellers to vacillate, yet with unemployment at an all-time low, a record number of people with a job, ultra-low interest rates and decent mortgage availability (with the Banks and Building Societies tending to drop mortgage rates instead of increasing them), those Thanet first time buyers (and especially Thanet buy-to-let landlords) who have adjourned their next house purchase because of perceived political uncertainty should be reminded that talking to many of my fellow Thanet agents they have more homes on their books than at any time for the last three or four years, so there is a greater choice of Thanet properties to call your next home/BTL investment with a potential of securing a great property deal in the next month or so.

Irrespective of what happens with Brexit, Thanet people will still need a roof over their heads and as I have mentioned on a number of occasions, I have proved beyond doubt we aren’t building enough homes both locally in Thanet and nationally. If supply is limited and demand increases (as the population grows and we get older), prices in the medium to long term can only go in one direction. Upwards!

So, whatever happens with BoJo and Brexit – why wait, because once we get over that hurdle, there will just be another hurdle and another hurdle and by which time – we will be in 2029 and you would have missed the boat. We survived the Global Financial Crash, 3-day week in 1970s’, hyperinflation etc etc … yet the choice is yours.

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