INVEST IN
MEDWAY
INTRODUCING
MEDWAY Located only 30 miles away from Central London, Medway is the largest urban area in the South East outside London and is proving to be a popular choice for commuters and the next big opportunity for investors. The Medway towns consist of Gillingham, Rochester, Chatham, Rainham and Strood, all which are benefitting from significant investment being funnelled into the area in recent years. In the past, Medway was considered a maritime destination with shipbuilding a major industry along the banks of the Medway river and the area being previously occupied by an established Royal Naval Dockyard. Over the last decade, the Medway towns have undergone huge improvements, and the relatively low house prices combined with excellent rail links, which connect Medway to Central London, have been attracting Londoners who are being priced out of the capital’s housing market.
Population Medway – 276,000+ Student Population: Student population – 10,000+
Medway
330,200
£143.6m
10,000+
The population is forecast to grow to 330,200 by 2035
The three universities in Medway contribute over £143.6m to the local economy
Medway is home to a significant student population
(Medway Council)
(University of Kent, 2017)
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(Universities at Meday, 2017)
Infrastructure •
Trains - Medway is home to five main rail stations in the towns of Strood, Rochester, Chatham, Gillingham and Rainham. The high-speed train operates in the area and provides frequent services from the towns to London St Pancras International in just 35 minutes. There are also other train services which connect the Medway towns to London Victoria and Charing Cross.
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The Medway towns are conveniently located close to the major roads and motorways such as the M2, M20 and M25 which allow residents to access other parts of the country easily.
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Cycling – Medway Council introduced a Cycling Action Plan and is in the process of developing the area’s cycling culture with the aim to expand and improve the cycle network in the area. A leisure cycle route will be provided along the estuary of River Medway and cycle parking will be increased at local train stations.
31%
20,000+
Increase in average Medway house prices since 2014
The Medway regeneration programme will create over 20,000 new jobs in the next 20 years
(Rightmove, 2017)
(Medway Council, 2017)
Housing
Employment
In 2017 the average price of a house in Medway is £255,270, an increase of 31% since 2014 when the average house price was £195,200.
The average earnings in Medway increased drastically in 2016 which continues the upward trend in earnings in the local area over the last 5 years.
Average rents in the area have increased 4.23% over the last year.
The median gross annual pay of a full-time employee in 2016, was £29,503, which is above the national level.
Approximately 16,000 new homes will be built under the regeneration programme over the next 20 years to keep up with population growth.
In March 2017, there were 8,425 businesses recorded in the Medway area, an increase of 5.6% from 2016. New homes and businesses that will be built at Strood Riverside, Rochester Riverside and Chatham will see 40,000 new jobs being created on 900 hectares of exindustrial brownfield land.
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Contact us Whether you are looking for a high-yielding investment property or would like to enquire about becoming part of our extensive Agents Network, please contact us to set up a meeting to further discuss your requirements and determine how Knight Knox can best help you. Get in touch Address: Knight Knox, Quay West at MediaCityUK, Trafford Wharf Road, Manchester M17 1HH Tel: +44 (0)161 772 1370 Fax: +44 (0)161 241 5360 Email: info@knightknox.com Find us online Website: www.knightknox.com
The content contained within is correct at the time of publishing (November 2017).