Page 2 - Kent Property Market Report 2020

Contents
Cover:
Proposal for Panattoni Park, Aylesford CREDIT: Panattoni
Caxtons’ Property Market Analysis
04
Caxtons’ Property Market Outlook
The COVID-19 crisis has profound implications for households, the economy and the real estate market, but property can be part of the recovery solution for Kent’s future.
06
Business Park Performance
Kent’s business and science park market remained active during the pandemic,
with lettings progressing during and post lockdown. The county’s science parks have been active in the fight against COVID-19.
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Office Performance
The pandemic brought greater caution towards town centre office locations during the lockdown period. While uncertainty is likely to persist for now, local towns may attract greater activity in the long term as full time commuting takes a backseat.
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Rural Performance
The farmland market has remained resilient this year with a strong rebound in activity post lockdown, reports Savills.
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Residential Performance
Kent’s residential market has proved remarkably resilient during the crisis.
The range of schemes coming forward will continue to attract the growing demand from out-movers from London, but the withdrawal of incentives such as the higher Stamp Duty threshold presents a concern for 2021.
10
Industrial and Distribution Performance
Having attracted the attention of both investors and logistics operators for its relative affordability and connectivity over recent years, the pandemic has only added to requirements, driving robust rental growth.
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Retail Performance
The retail sectors has felt the full impact of the crisis, but there are signs independent retailers are repopulating some towns in the wake of rebased rents. The reorienting of towns and repurposing of retail space will be part of the solution for the future.
03
Welcome
An introduction to the 29th edition of the Kent Property Market Report, produced by Kent County Council’s Economic Development Division, Caxtons and Locate in Kent.
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Proposal for ‘Leap’, Maidstone’s new Innovation Centre based at Kent Medical Campus. CREDIT: Bond Bryan Architects
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Housing at Castle Hill, Ebbsfleet Garden City. Over 2,000 homes have now been completed at Whitecliffe, Ebbsfleet Garden City, bringing the population to nearly 5,000 people, a third of the planned total. CREDIT: Ebbsfleet Development Corporation