Date Published 09 November 2022
We couldn't disagree more with the front-page article in this week's edition of The Tiimes of Tunbridge Wells, predicting a plummeting property market in 2023. It's these types of negative and factually incorrect articles that sadly cause more harm than good.
The Tunbridge Wells property market has its own microclimate and accurately priced homes remain hugely popular amongst active buyers. Stock levels remain low - almost 40% down on where they should be at this time of the year and this will continue to keep prices stable for the foreseeable future.
It's overpriced properties that are now coming down in price and it has nothing to do with a declining property market. The Tonbridge based agent that was asked to comment happens to have the highest property price reduction rate of all Tunbridge Wells and Tonbridge estate agents - source is Rightmove Performance Data, which all agents have access to. This agent reduces the price of 30% of all the properties they list, so a negative narrative on property prices is more about protecting their reputation.
And what does someone from Savills head office's research team know about the Tonbridge and Tunbridge Wells property market? They will say anything for brand exposure.
We think this is lazy journalism and homeowners in Tonbridge and Tunbridge Wells should take it with a pinch of salt.
