The Rise of Margate as a Coastal Real Estate Hotspot
A street in one of Britain’s most iconic seaside towns has become a haven for homebuyers, with properties being snapped up six weeks faster than the national average. Prospective buyers are flocking to trendy Margate in Kent to purchase properties in this small coastal town, which counts British indie rock legend and Libertines' co-frontman Pete Doherty among its star-studded residents.
Westbrook Gardens, just a few yards from the beach with stunning sea views, is the town's fastest-selling street. It takes only 102 days to sell a home there, which is nearly one and a half times the national average of 147 days, according to research by estate agent Upstix.
After enjoying decades as one of Britain's favorite seaside destinations, Margate went into a period of decline. However, in recent years, especially post-pandemic, it has become a fashionable magnet for Londoners, even nicknamed 'Shoreditch-on-Sea'. Nearly 6,000 people from London relocated to Thanet in the three years following the pandemic alone.
The great boom of Down From London (DFL) has given Margate a new identity, with average house prices set at £348,571. Across a 10-year period, from 2013 to 2023, average asking prices in the seaside town more than doubled, up a staggering 102 per cent.
Locals believe that, along with beach and sea views, facilities, good transport links, and cheaper properties than the capital, have resulted in Londoners snapping up second homes and Airbnb rentals en masse.
Richard Thomas, 54, bought a property on the street within just 40 days of seeing it advertised last year. The facilities manager said: "I came from Canterbury to be closer to the sea and better views. I've always loved the sea. I thought it would take a while. It was so quick."
Rory Waitt, a retired teacher, lives in the postcode and runs a community project called Wilderness to Wonderland, to improve the area. He believes that Margate's 'attractive' nature and 'real vibe' is behind the town's incredible popularity. "We're a group of volunteers and we want to make things better. The fact the houses here are selling so much quicker than the national average shows that."
Samuel Welling, 54, bought his house within 60 days of putting it an offer in 2023. Describing the process as 'smooth', he said: "We wanted to live here badly. We came from Maidstone. On our street there were three other families who moved in the same week."
Milton Avenue, CT9 1TT, is the seaside town's second fastest-selling street, with properties taking an average of 113 days to attract a buyer. The third fastest is Ethelbert Road, CT9 1LA, with its properties sold within 127 days, on average.
Andrew Miller, 53, took just weeks to move into his Margate property nearby several years ago. The volunteer gardener said: "It's such a buzzing place. There's a very quick turnaround, it's fantastic."
Meanwhile, Linda Laslett, 82, has lived in the Margate area all her life and said homes sell 'like hot cakes'. She said: "They always have and always will. It's a lovely area. I'd highly recommend it to anyone."
However, while some locals have spoken favorably about the influx of buyers in the seaside town, others 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 - literally - by spray-painting his latest artwork onto the side of a house two years ago, before it was unceremoniously wrecked by the local council.
But the skyrocketing attention towards the resort, dubbed the 'Camden of the south-east', has come at a cost, many residents insist. Sections of the old town are now basically East London according to the mouths of locals through gritted teeth, who say they have been forced to watch as hordes of yuppies flock about with soy lattes and pedigree dogs.
Local resident Pauline Kirkwood, 72, who has lived in Margate for 50 years, previously told the Daily Mail that residents in the seaside town had become 'abandoned'. The retired shop worker 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."
Meanwhile, other locals spoke of being priced out of the housing market due to the unprecedented invasion of second home owners and Londoners. Property in Cliftonville West, for instance, costs now double what it did in 2010.
Jessica Scott, 19, has lived in the town all her life and previously told The Daily Mail of her 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."
Pauline, who lives in Cliftonville, said: "It doesn't feel like a holiday destination anymore and doesn't have that seaside feel."
Kate Stuart, 85, who originally moved to Margate from London 14 years ago, also said that she is fed up with the influx of people from the city, adding that it has 'gone too far'. She added: "I didn't move because I wanted to be trendy. I moved because I had nowhere else to go really. It was all I could afford."
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."
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