A Coastal Town’s Rapid Rise in the Property Market
A street in one of Britain’s most iconic seaside towns has become a hot spot for homebuyers, with properties being snapped up six weeks faster than the national average. Prospective buyers are flocking to Margate in Kent, drawn by its charm and unique appeal. The town is home to notable residents like British indie rock legend Pete Doherty, co-frontman of The Libertines.
Westbrook Gardens, located just a few yards from the beach with stunning sea views, is the fastest-selling street in Margate. It takes only 102 days to sell a home there, which is nearly one and a half times faster than the national average of 147 days, according to research by estate agent Upstix.
Margate, once a beloved seaside destination, experienced a period of decline. However, in recent years, especially post-pandemic, it has transformed into a fashionable magnet for Londoners, earning the nickname “Shoreditch-on-Sea.” Nearly 6,000 people from London relocated to Thanet in the three years following the pandemic alone.
The influx of Londoners, often referred to as “Down From London” (DFL), has given Margate a new identity, with average house prices set at £348,571. Over a 10-year period, from 2013 to 2023, average asking prices more than doubled, rising by a staggering 102%.
Locals believe that factors such as beach and sea views, good facilities, transport links, and cheaper properties compared to the capital have led to Londoners snapping up second homes and Airbnb rentals en masse.
Richard Thomas, a 54-year-old facilities manager, bought a property on the street within just 40 days of seeing it advertised last year. He said, “I came from Canterbury to be closer to the sea and better views. I thought it would take a while. It was so quick.”
Rory Waitt, a retired teacher who lives in the postcode and runs a community project called Wilderness to Wonderland, believes that Margate’s “attractive” nature and “real vibe” are behind the town’s popularity. He added, “We’re a group of volunteers and we want to make things better.”
Samuel Welling, 54, bought his house within 60 days of putting an offer in 2023. He described the process as “smooth,” saying, “We wanted to live here badly. We came from Maidstone.”
Milton Avenue and Ethelbert Road are also among the fastest-selling streets in Margate. Andrew Miller, 53, took just weeks to move into his property nearby several years ago. He said, “It’s such a buzzing place. There’s a very quick turnaround, it’s fantastic.”
However, not all locals are pleased with the changes. Some residents have become increasingly frustrated with the gentrification of the once relaxed seaside getaway. The town has become home to some of the UK’s most popular stars, including Tracey Emin, who purchased a derelict seafront building in Margate in 2023, with plans to transform it into a community hub.
Even secretive graffiti artist Banksy has made his mark on the town, spray-painting his latest artwork onto the side of a house two years ago, before it was unceremoniously wrecked by the local council.
While some see the transformation as positive, others argue that the skyrocketing attention has come at a cost. Sections of the old town are now considered similar to East London, with locals expressing frustration over the influx of yuppies and the rising house prices.
Local resident Pauline Kirkwood, 72, who has lived in Margate for 50 years, previously told the Daily Mail that residents had become “abandoned.” She said, “There’s a lot of noise about everyone coming down from London and it all being a great thing. They bang on about the new cafes, art galleries and how it’s trendy.”
Jessica Scott, 19, who has lived in the town all her life, expressed frustration at Londoners dominating the once idyllic coastal haven. She said, “The trouble is getting somewhere to live. I still live with my parents because it would be impossible for me to even rent somewhere here.”
Kate Stuart, 85, who moved to Margate from London 14 years ago, said she is fed up with the influx of people from the city, adding that it has “gone too far.” She said, “They are now coming here because they like it and they want to change it.”
Meanwhile, other locals argue that Margate’s transition to an arts hub for former Londoners has brought harmful drugs to their doorstep. In July last year, a bad batch of MDMA killed a 17-year-old schoolgirl and hospitalised 21 others after a gig at the town’s Dreamland venue.
Ray Voss, 78, who has lived in the coastal town since 1966, slammed the influx of ex-Londoners. He told The Daily Mail: “60 or 70 per cent of the people who came down here take drugs.”
Frederick Jones, CEO of Upstix, said: “How potential buyers feel about your home itself is just part of the selling story. They also need to imagine themselves living in your street and enjoying the surrounding area.”