What’s the big picture with house prices in Folkestone and Hythe?

Property prices in Folkestone and Hythe declined 2.7% over the past year, cutting £8,600 from the price of the typical home, according to Zoopla's April 2024 House Price Index.

The area is down with an annual performance lower than the UK average fall of 0.1% since April 2023. The typical Folkestone and Hythe home is now worth £308,600, above the UK average house price of £264,300.

Over the past month, prices in Folkestone and Hythe have grown slightly. And looking back over the last five years, the average property value has grown by 19.3%.

According to Righmove, nationally the number of sales being agreed during the first four months of the year is 17% higher than last year, outstripping the 12% increase in the number of new sellers coming to market.

With 62 days on average needed to find a buyer before the legal process even begins, would-be sellers hoping to be in a new home for Christmas need to be taking action now. 

Rightmove’s analysis shows that properties that need an asking price reduction take more than three times longer to find a buyer as those that do not, giving sellers who price right from the outset the edge to sell more quickly.

Despite these positive lead indicators for higher transaction levels this year, the painful average of 154 days between agreeing a sale and legal completion remains a challenge for both agents and movers: