Launch of Ashford Property Market Report 2020Posted on 13 August 2020
Following the success of the first edition last year, Ashford Borough Council in association with Caxtons Chartered Surveyors has published the Ashford Property Market Report 2019/20.
The report provides property professionals and investors with an in-depth analysis of the developments shaping Kent’s number one business location and changing the local property market.
Whilst the Covid-19 pandemic has posed challenges to the property landscape, the Ashford Property Market Report seeks to understand how the market was performing prior to the pandemic to identify how it will change moving forward.
As well as landmark developments, such as Curious Brewery, Chilmington Green and the recently approved Newtown Works studio-led project, Ashford is also performing well across the office, industrial, retail, residential and leisure markets:
Prime office rents have experienced a 33% growth over the last five years.
Prime industrial rent continues to be above average for Kent at nearly £97 per m2 compared to £92 per m2.
Retail rents rose by 5% in the three years to Q3 2019, compared to the 2% fall in the Kent average.
Average residential value up 22% over the last five years.
We can see from the report that generally Ashford performed better than many other areas of the county.Neil Chatterton, Managing Director of Caxtons
The purpose of the report is to raise questions on the future of the residential, commercial, retail and leisure sectors and to create a proactive discussion online and offline between local authorities, investors, developers and property professionals about the future and long term legacy of the pandemic.
Despite the challenges posed by the coronavirus pandemic, Ashford is still very much leading the way for inward investment and regeneration.Cllr Gerry Clarkson, Leader of Ashford Borough Council
Cllr Gerry Clarkson, Leader of Ashford Borough Council, said: “The property landscape is very different from when we launched the first Ashford Property Market Report at Connect 38 last year, but the findings of this year’s report are equally important.
“Despite the challenges posed by the coronavirus pandemic, Ashford is still very much leading the way for inward investment and regeneration. In the past year alone we have seen the opening of the state-of-the-art Curious Brewery, the completion of the £90 million Ashford Designer Outlet expansion and launch of the much-needed co-working and event space at the Coachworks, to name a few.
“There’s certainly some really positive findings to come out of this year’s report, but more importantly it’s about generating a conversation among stakeholders about what the future holds for the Ashford property market. I think the future is very promising indeed.”
Neil Chatterton, Managing Director of Caxtons, said: “After the success of last year’s launch, we are delighted to work with Ashford Borough Council again and to have provided the research for the Ashford Property Market Report 2019/2020.
“We can see from the report that generally Ashford performed better than many other areas of the county. A range of interventions by Ashford Borough Council, including the purchase and management of the Park Mall shopping centre and early involvement with the Connect 38 development have seen positive results. The Council has also been active in the innovative promotion of the town to residents, developers and investors.”