More than 250 people from across the property and business sectors attended this year's launch of the Kent Property Market Report, which was researched and compiled by Caxtons and produced in conjunction with Kent County Council and Locate in Kent.
The breakfast event, held at the Great Danes Hotel near Maidstone on 2nd November, revealed some surprisingly upbeat statistics that bucked the trend of lacklustre results for the property and construction sector in other parts of the country.
Straddling major routes from the continent to the capital and beyond, makes Kent and Medway strategically pivotal in the south east. In addition, the cost of property and land has made Kent and Medway attractive for business and industry alike.
Growth continues in the office, business park and industrial sectors, and activity in the housing market is buoyant with developments such as the new Ebbsfleet Garden City well under way.
Increased exports have provided short-term gains in the industrial and distribution sector due, in part, to the Brexit vote and resulting fall in the pound. Also, the lack of development during the recession years has resulted in an increase in the average prime rent in Kent and Medway of 9.4% during over past twelve months.
Rents on business parks have remained largely stable and there has been expansion in the Life Sciences with the launch of the North Kent Enterprise Zone.
Average vacancy rates across the retail sector are down from 9.9% to 8.9%, which exceeds the national average and prime retail rent is increasing faster than in the previous 10 years.
House prices continued to grow and outpaced London during the year to August 2017. HS1 was providing new opportunities to live outside the capital and commute in,
Inward investment to the county continued apace and in the twelve-month period under scrutiny, Locate in Kent assisted 56 companies to find property occupying in excess of 700,000 ft2, an increase of 200,000 ft2 on the previous year.
Chairman of Caxtons, Ron Roser, said that the firm was delighted to be presenting such a strong picture of the sector in what had been a difficult year post the Brexit vote. "In our fifth year as main sponsor and contributor to the Kent Property Market Report it shows more than ever how investment in infrastructure, regeneration and business space is translating into occupier demand and improved investment prospects.
"This year's report reflects positivity across the property sector in the county and we look forward to a very busy year ahead."
Caxtons is one of the largest independent property practices in the south east. Operating from offices across Kent, Caxtons offers a range of consultancy, management and surveying services in the commercial and residential sectors, managing around 7,000 properties in the region.
For six out of the past seven years, Caxtons has been awarded the prestigious 'EGi Deals Winner Kent'. Based on commercial property lettings and sales achieved in the previous twelve-months, Caxtons has consistently performed well, with results showing year on year increases throughout the period.
Caxtons has researched and compiled information for the Kent Property Market Report, and publishes the information in tandem with Kent County Council and Locate in Kent.