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House prices go through the roof with a £36k hike
But Tunbridge Wells growth flatlines as uncertainty hits market By Richard Williams
HOMEOWNERS in Tunbridge Wells made an average of £36,000 on their properties last year, although increases in house prices have now stopped, industry figures show. According to one of the country’s biggest lenders, prices across Tunbridge Wells shot up by 8.3 per cent in September BACK WITH A months BANG: Despite compared to 12 earlier. torrential rain, over 5,000 people descended on Dunorlan to enjoy the 66th annual Dunorlan Fireworks. more on page 3 This means the average houseSee in the town and wider borough is now fetching £36,163 more than it was this time last year. By contrast, the average wage in Tunbridge Wells is just £35,500 per annum, meaning the average homeowner made more money from their house than market pauses while it sorts itself out.” Despite this massive year-on-year hike from their salary last year. Councillor Justine Rutland, Cabinet services, and not Meanwhile, Tomforgetting Snowdonskating, from Kings in average house prices, the property By Grace Corcoran memberhas fornow Economic Development curling,said: a new“Over Ferristhe wheel Estates last and two Father years, market stopped growing. and FREE parkingSnapshot every Sunday in December BID Board values member said: “I’m Christmas in Calverley Grounds.” we have seen unprecedented house Property recorded 0.0pleased per cent inThe the most townrecent centresnapshot is set to be that we month-on-month are planning to offer shoppers According council report, the free price growthtoinathe town.” growth in September ofapproved the this weekmarket by Tunbridge Wells Borough free parking overfollowing the festive period. parking at both car parks, But he concessions added: “Everyone knew the compared to days August, a 0.7 per housing by the Nationwide Council the first Localincrease businesses toldthe usmortgage this is whichhouse have occupancy rates rapid price growth hadoftoaround stop at30 cent last have month, building(TWBC) society in shows thatChristmas across the parking scheme 2019. importanthas to said. them, so it is great we’re per cent, will result in a lossfor of £36,000 some point and the catalyst this was provider UK, house pricessince rose by 9.5 per cent in The scheme will mean parking Royal able to help. in revenue – the hike, loss will be incorporated the energy price which was September compared to the sameattime Victoria into the Council’s RVP budget. reported over the summer. last year.Place and Meadow Road car ‘The average homeowner parks every Sundaylender acrosssays December The parking concessions the Council “The government’s mini-budget a week But the mortgage that Support will beprices free. have now stopped growing offered 2019 resulted in unchanged ago andin the subsequent interest rate house made more money from The decision is set approved but “I hope it encourages lots of people to usage. However, TWBC believes by lenders, has made ittrying more a month on month andtoa be stronger their house than from their increases is subject to ‘call-in’ in – athe procedure come into town on Sundays, which is concessionfor again thistoyear could be more expensive buyers borrow money, so slowdown is aexpected coming salary year’days whereby executive decision may be traditionally one oflast the quieter successful due to had the ‘the support ofeffect local this has certainly a dampening weeks as an surging inflation and mortgage examined by the Overview and Scrutiny for retailers.” businesses, on buyers.” the BID and the new centre rates take their toll. Committee. free parking She added: “OneNationwide’s of the wonderful management’. Deborah Richards from Maddisons Robert Gardner, chief According If tothe Nationwide. the scheme average is not ‘called in’, it will be approved things aboutsaid: Royal Tunbridge Wells at Free parking at Royal Victoria Place Residential on The Pantiles added: economist, “Prices were unchanged home in Tunbridge Wells now costson Friday November Christmas is there areAugust, massesafter of things and Meadow Road car growth parks will be “Overall I do feel price is slowing, over the month from taking £435,709, which is10. up from £399,546 in The Council and RTW Together hope to do as well as shop.effects. Plan aThis day out and every Sunday between due mainly to the risingDecember mortgage 3-31. account of seasonal is the September 2021. the concessions willsay encourage more take month advantage of record amazing food and rise interest There will a chance forwhich last-minute ratebeenvironment is first not to a sequential But other vendors average house people to higher, the town centre over the drink July offers – there’s panto at Assembly shoppersbuyer’s to take affordability. advantage ofHowever, the free affecting since 2021.” prices are with Rightmove saying Christmas local Hall Theatre and Trinity Theatre, parking Christmas which also it will beon interesting to Eve, see whether this David Johnson, from KMJ Property the averageperiod, home inhelping Tunbridge Wells now businesses. Christmas shows, concerts church falls onTunbridge a Sunday.Wells, which due to its affects confirmed that house pricesand haven’t sells for £499,208, while Zoopla says it is excellent transport links and schooling grown in Tunbridge Wells in September £518,385, which means the average house options, plus beautiful architecture and but added: there is politicalAwards in the area could have increased by as celebrity INSIDE: This year’s host“Whenever of Times Business revealed – page 3 green spaces, can often sit in a bubble.” or financial uncertainty, the housing much as £40,000 over the last 12 months.
December Sunday parking concessions set to return after a four-year hiatus
Jack Vettriano (1951-), ‘The Critical Hour of 3am’, oil on canvas
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