House prices in the seaside town of Westgate-on-Sea have more than doubled over the past year. On average, a home that cost about £150,000 before is now valued at roughly £322,000.
Where is Westgate-on-Sea?
It’s a scenic Victorian town less than two hours away from London by car and just a short 10-minute drive from another town called Margate.
Why is this happening?
- Popularity with ‘Hipsters’: Many trendy folks from London, especially areas like Shoreditch and Hackney, are buying homes in Westgate-on-Sea.
- COVID-19 Impact: Since the pandemic, many people have started working from home and haven’t returned to city offices. This has made seaside towns, where one can enjoy fresh air and a change of scenery, more attractive. Instead of paying high rents in London with limited space and amenities, people are finding value in buying homes in places like Westgate-on-Sea.
- Not Just Westgate: This isn’t unique to Westgate-on-Sea. Other seaside towns, including its neighbour Margate and places like Salcombe, have seen significant property price increases.
Who’s moving to Westgate?
The new wave of residents is diverse:
- Trendy young people from London (often dubbed “hipsters”).
- First-time homebuyers.
- Remote workers.
- Entrepreneurs.
What’s special about Westgate-on-Sea?
- West Bay Beach: This is a popular beach in Westgate, known for its clean shores and stunning sunsets. It’s a favourite for both locals and visitors.
- Victorian Charm: The town has a unique “Victorian” vibe, offering a slower and more relaxed pace of life, which many find appealing.
- Community Feel: The town’s residents enjoy the community spirit and the historical landmarks, like the Carlton Cinema – a beautiful Swiss-Gothic-style building built over a century ago.
Conclusion
The pandemic, coupled with the allure of seaside towns and the ability to work remotely, has turned places like Westgate-on-Sea into property hotspots. If you’re considering an investment, it’s essential to understand these trends and the changing preferences of homebuyers.