June 2025 Faversham Housing Market Update
June 2025 Faversham Housing Market Update – Local Property Trends Across Faversham
As we head into July 2025 comes to a close, we've taken a good look at the data from the local property market, particularly focusing on the areas around Faversham. With 173 data points analysed, we can provide an insightful overview that will help you understand the current landscape and its trends.
Firstly, the average property sale price in our local market has settled at £340,943. This figure indicates a steady demand for homes, as buyers continue to show interest across different property types. It's essential to remember that property prices can fluctuate based on various factors, so these statistics give us a useful snapshot of where we currently stand.
One of the most notable aspects of June's figures is the average price per square foot, which has been recorded at £376 (which is down a little on the same period last year). This value is significant, as it offers a metric for assessing property value in terms of the space offered. For potential buyers and investors, this can be a critical measure when considering the overall investment potential of a property. Properties that deliver more square footage at a competitive price-per-foot are naturally more appealing.
The turnover of sales in the local market stands at 37%. This percentage reflects the brisk activity we've seen in transactions, indicating that the local property market remains vibrant. A 37% turnover suggests that properties are being bought and sold relatively quickly, which could signify a strong buyer's market where people are eager to take advantage of available offers. For sellers, this can be encouraging, knowing that interested buyers are actively looking to make a purchase.
When looking at financing options, the current average two-year fixed mortgage rate is pegged at 4.43%. This rate plays a crucial role in home buying decisions, as it affects overall affordability. With household incomes averaging £45,900, potential buyers will need to consider these rates carefully when planning their budgets. The balance of mortgage rates and household income is vital for maintaining a healthy property market and ensuring that residents can manage their payments comfortably.
Now, let us explore the implications of the properties that are actively selling in areas like Faversham. The continued interest in homes here suggests that lifestyle factors are encouraging families and individuals to settle in our local communities. The appeal of Faversham's rich history, picturesque settings, and accessible amenities does not seem to wane, making it an attractive prospect for new owners.
We also know that the average household income here sits at £45,900. This information not only reflects the financial capabilities of our local residents but also assists potential sellers when pondering their property's potential market value. A higher average income can lead to increased demand in certain segments of the market, especially in areas where buyers are looking for larger family homes or more luxurious properties.
As we come into the second half of the year, it will be intriguing to see how these trends develop. Will we continue to see property prices increase, or will they plateau as buyers become more discerning? The current data shows a flourishing market, but we always advise caution and vigilance for both buyers and sellers navigating these waters.
In the coming months, we anticipate that buyers in our local market will likely need to be flexible with their expectations and be prepared to act quickly given the recent property turnover rates. Sellers, on the other hand, should feel a renewed sense of confidence in listing their properties as the demand persists.
If you are considering buying or selling in Faversham, now is a great time to discuss your options. Being informed about the market and understanding your position can make a real difference when making significant decisions.
At Harrisons, we pride ourselves on being your trusted local property experts. We are extremely proud to be the only local member of The FIA, a network of high-quality UK independent estate agents, ensuring we provide the best possible service and insights. Should you wish to find out more about the local property market or would like us to provide a market appraisal for your property, we invite you to reach out to us. We're here to help you navigate the exciting opportunities that await in our vibrant Faversham community.