Cost of Living Tunbridge Wells
22nd March 2017
22nd March 2017
Moving to a new city, town or area can be exciting as well as daunting. It’s always good to learn what the area is like and whether it has what you are looking for, and it’s great to know how much it will cost you to live there.
Tunbridge Wells in Kent is less than 40 miles from central London and is served by great commuter links. It is surrounded by very attractive villages, which with the town itself and the other popular towns of Tonbridge and Sevenoaks provide excellent relocation choices, particularly from London.
Royal Tunbridge Wells has been home to the “Rich and the Famous” since the 18th Century and it’s easy to understand why people fall in love with the town and want to live in it.
The standard of homes is high and many of the distinctive character buildings are particularly appealing. There are delightful parks, excellent state, public and private schools, a good range of shops and restaurants as well as theatres and sports facilities. The crime rate is also low.
However, all this is bound to come at a price! Tunbridge Wells is not the cheapest place to live and for many young people it is tough to get on the property ladder. So does the town offer value for money?
Here, we look at the various elements and the associated costs relating to average house prices, average rental prices and schools. Next month, we will continue this article with a review of shops, restaurants and leisure facilities.
According to Zoopla estimates, the current average value in Tunbridge Wells in January 2017 was £478,342. This has increased 0.51% from October 2016.
Terraced properties sold for an average value of £366,543 and semi-detached properties were valued at £444,595. Over the past year, property prices in Tunbridge Wells have increased 4.51%.
Property value data/graphs for Tunbridge Wells from Zoopla:
|Property type||Avg. Current value||Avg. £ per sq ft.||Avg. # beds||Avg. £ paid (last 12m)|
Rightmove’s figures are slightly different and report that most of the sales in Tunbridge Wells over the past year were flats, which on average sold for £254,041. Semi-detached properties had an average sold price of £429,721 and terraced properties averaged £366,411.
Tunbridge Wells, with an overall average price of £428,857 was more expensive than nearby Southborough (£380,736), but was cheaper than Speldhurst (£717,417) and Langton Green (£721,726).
In the past year house prices in Tunbridge Wells were up 6% on the previous year and 28% up on 2013 when they averaged £334,305.
Zoopla reports that the average rental cost in Tunbridge Wells was £1,169 and they show the following figures for houses and flats.
A one-bedroom house had an average rental of £647; two bedrooms came in at £1,041, three bedrooms at £1,313, four bedrooms at £2,220 and a five-bedroom house at £2,716.
One bedroom flats averaged £704 a month, two bedrooms £1,025 and three bedrooms £1,670.
Tunbridge Wells has an excellent selection private and public schools. This is a choice that some parents consider as the schools have smaller class sizes and good academic results and extra-curricular activities. However, term fees do vary considerably.
Tatler in its 2016 Schools Guide cites the following:
Holmewood House: Day fees £5,820 and Boarding fees £6,880 per term
Sevenoaks School: Day fees £6,921 and Boarding fees £11,052
Tonbridge School: Day fees £9,072 and Boarding fees £12,096
The Mead School: Ranges from £1,715 per term for Kindergarten, Pre-Reception at £1,372, Reception Years 1 and 2, £3,155 and Years 3-6, £3,495 per term
Rose Hill Years: Reception – Year 2, £3,575 per term and Year 3 – Year 8, £4,785
Beechwood Sacred Heart: Boarding fees, £8,250 to £9,250 with Day fees at £3,100 to £5,550.
The Sunday Times carried a report on 26th July 2015 that it could cost almost £500,000 to send a child to a private school for a 14-year education although a report by wealth management company Killik & Co in the summer of 2015 claimed that it now costs £286,000.
Average day school fees are £13,194 per year and boarding fees average £30,369. Educational extras cost a further £3,000 per year.
Blog courtesy of Maddisons Residential.