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Gillingham Buy-to-Let Guide

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    Everything You Need to Know About Gillingham Buy-to-Let

    Gillingham is a vibrant town situated in the southeast of England, within the historic and ceremonial county of Kent. With good transport links to London, amenities and strong capital growth, Gillingham is considered a safe option for those searching for a buy-to-let investment.

    If you’re considering property investment in Gillingham and want to learn more about the town, this helpful guide will give you insights and information about Gillingham and buy-to-let properties.

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      Buy-to-Let Property Prices in Gillingham

      The UK House Price Index illustrates that the average UK property is worth £287,546, and according to Rightmove, the average house price in Gillingham is below this, with an average house price of £267,938.

      House prices have considerably dropped in the UK over the past year, and experts at Savills predict a predictive growth rate of 18.2% in southeastern regions by 2028.

      Since 2012, rental prices in Gillingham have increased by over 20%, with a steadily rising curve expected to continue. This is a positive sign for potential property investors, as with the exception of a slight downturn in 2009, the area is generally considered a safe bet for those hoping to gain a good return on their investment.

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      Buy-to-Let Rental Market in Gillingham

      According to Home.co.uk, the average property in Gillingham rents for around £925 PCM, making it more affordable for renters than the national average of £1,243 PCM

      According to data taken from Denton House Property Research, rental prices in Gillingham are set to increase by around 9% by 2029, with potential yields ranging from 5-10%.

      Rightmove reported last year that rental enquiries had at least trebled across all regions of the country since 2019 and that the South East had, in fact, increased by four times. This emphasises the current demand for rental properties, especially in Gillingham and other areas of the southeast region.

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      Investment Properties for Sale in Gillingham

      In March 2023, the average house price for a property in Gillingham was £227,025. A Semi-detached property averaged £200,67, detached £401,600 and terraced £282,000. But with house prices falling in this area and rental pricing increasing, Gillingham appears to be a smart option for property investors.

      There has been a decrease in property prices across all property types. For example, in March 2024, the average cost for a terraced property in Gillingham was £282,000. This average dropped by 48% to £145,500.

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        Buy-to-Let Investment in Gillingham: Area Breakdown

        Known for its links to maritime and military heritage, Gillingham is home to the popular Royal Engineers Museum. With plenty of amenities, country parks and excellent links to London, Gillingham offers a unique blend of countryside and convenience.

        Gillingham Railway Station allows residents to potentially be in central London within an hour. For football fans, the town is home to Gillingham Football Club, nicknamed the “Gills”, who play at the Priestfield Stadium.

        For bargain hunters, the High Street has a bustling market on Mondays and Saturdays, and the area boasts plenty of supermarkets and independent businesses. Keep reading to learn about where the best buy-to-let areas are in Gillingham.

        Hempstead

        Average Property Prices in Hempstead

        The average property price in this area is £427,300.

        Average Rental Yield in Hempstead

        The average rental yield in this area is 4.6%.

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          Rainham

          Average Property Prices in Rainham

          The average property price in this area is £301,102.

          Average Rental Yield in Rainham

          The average rental yield in this area is 3.8%.

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          Brompton

          Average Property Prices in Brompton

          The average property price in this area is £226,501.

          Average Rental Yield in Brompton

          The average rental yield in this area is 4.6%.

          (Average property prices taken were from Rightmove in June 2024; rental yield estimates were calculated with figures from housesforsaletorent.co.uk in the same period)

          What is the Best Area of Gillingham to Invest in?

          Brompton generally seems to be the most desirable area in Gillingham for those looking to invest in buy-to-let properties. Its proximity to shops, schools and transport links makes this area particularly popular.

          According to Bricks and Logic, house prices have decreased over the past 12 months, whereas rental yields have increased. Investors can expect a yield between 5.3% and 7.8%, with an average of 6.1%.

          Rainham similarly offers good educational prospects, transport links and amenities. However, average rental yields are lower at 3.8%, and house prices tend to be higher in comparison.

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            Why You Should Consider a Buy-to-Let Investment in Gillingham

            Regeneration

            Chatham Waters Development: This significant regeneration project aims to transform the waterfront area with new residential units, office spaces, retail outlets and leisure facilities, enhancing the local economy.

            Gillingham Waterfront Regeneration: Plans include new housing, improved transport links and enhanced public spaces, making the waterfront more accessible and attractive, thus boosting property values and rental demand.

            Medway City Estate Development: Redevelopment efforts focus on improving infrastructure and business facilities, including better transport links, new commercial spaces, and enhanced amenities, which will likely attract more businesses and professionals​.

            High Street Revitalisation: Initiatives aim to improve retail offerings, public spaces and transport facilities, boost local businesses, and make the town centre more appealing to residents and visitors.

            Investment Benefits

            Strong Rental Demand: Gillingham has a diverse rental market driven by commuters, students and families. The University of Greenwich at Medway ensures steady demand from students and staff. Additionally, many London-based professionals live in Gillingham due to its more affordable housing.

            Excellent Transport Links: Gillingham’s high-speed rail services to London St Pancras in under an hour make it highly attractive for London commuters seeking affordable living.

            Strong Capital Growth: The town has experienced robust capital growth, driven by development projects and increasing popularity, making it a strong choice for rental income and long-term investment.

            Education and Amenities: Gillingham offers good schools, recreational facilities, shopping centres, parks and cultural attractions.

            Maritime and Military Heritage: The rich heritage and attractions such as the Historic Dockyard Chatham attract tourists, boosting the short-term rental market and offering holiday let opportunities.

            Housing Development

            Gillingham New-Builds

            New-build properties typically require less maintenance compared to older homes. They are built to modern standards and often come with warranties that cover structural defects and certain fixtures and fittings for several years. This reduces the likelihood of unexpected repair costs, making them a hassle-free investment option.

            New-build homes are constructed with energy efficiency in mind, incorporating the latest insulation, heating systems and energy-efficient windows and doors. This results in lower utility bills for tenants, which can be an attractive selling point for those looking to invest in property in Gillingham. Additionally, these features can contribute to higher rental yields as tenants are willing to pay more for properties with lower running costs.

            New-build properties feature contemporary designs and layouts that can appeal to working professionals and families. Gillingham is popular amongst this demographic, so these types of properties can be a shrewd investment for property investors. Open-plan living spaces, modern kitchens and bathrooms, and up-to-date fixtures and fittings make these homes more desirable. This can lead to quicker tenant acquisition and potentially higher rents.

            Developers often offer incentives such as help with deposit payments, part-exchange deals, and other financing options that can make new-build purchases more affordable and attractive to investors. However, new-build investment opportunities can be limited in Gillingham, so many investors also look at nearby options, such as new-builds in Maidstone.

            Investing in new-build properties can sometimes come with additional financial benefits through government incentives, such as Help to Buy schemes, which can make the investment more financially viable.

            For further information on the benefits of new-build homes and property investment, refer to the UK Government’s advice on property investment.

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            Off-Plan Property in Gillingham

            Investing in off-plan properties in the UK often allows buyers to secure units at prices lower than the standard market rates. Developers typically offer discounts to early investors to secure funding and generate momentum for the project. This means you can purchase a property at a more favourable price, which can lead to significant savings.

            Off-plan properties have the potential for substantial capital appreciation. Property values often increase as the project progresses and the area undergoes development. When the property is completed, its market value could be significantly higher than the initial purchase price, offering solid returns on investment.

            Off-plan properties are built to modern standards, incorporating the latest construction techniques, materials, and energy-efficient technologies. This results in lower maintenance costs and utility bills, which can be particularly attractive features for potential tenants.

            New developments in Gillingham, driven by regeneration projects like the Chatham Waters and waterfront improvements, enhance the area’s appeal. This can lead to higher rental demand and, consequently, higher rental yields. With ongoing regeneration, the potential for increased property value and rental income is significant.

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              How Does Gillingham Compare to Other UK Regions When It Comes to Buy-to-Let?

              Although Gillingham’s rental yield is rising, property prices are falling.

              Investors may want to consider other options when looking at investment opportunities in this area. Property prices in the North of England are typically lower, so investors can find more affordable buy-to-lets for sale, and rental yields are, on average, higher. For example, according to Zoopla, the average rental yield for buy-to-let property in Liverpool is 7.21%, whereas the south-east regions of England have an average of 5.34%.

              Other areas close to Gillingham, like Colchester, for example, have an average property price around 5% above the national average. If you consider that the average property price in Essex, the ceremonial county that Colchester resides in, is £371,735, then Colchester could be good value for money compared to other areas of the country.

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                Want to Invest in Gillingham?

                Gillingham in Kent is a strong buy-to-let investment area due to its excellent transport links to London, amenities, and capital growth. The average property price in Gillingham is £267,938, below the UK average of £287,546. Future growth is predicted to be around 3% by 2027. Average rents are £925 PCM, with yields between 5-10%, and rents are expected to increase by 9% by 2029.

                The town is undergoing significant regeneration with projects like Chatham Waters and Gillingham Waterfront Regeneration, boosting property values and rental demand. Gillingham’s strong rental market is supported by students, commuters, and families, and its rich heritage attracts tourism.

                As mentioned earlier, properties in North West regions of England like Liverpool and Manchester typically cost less than in Southern regions of the country. The average gross rental yield is also normally higher, making these properties more attractive to investors.

                To find out more about the UK property market, take a look at some of our other guides:

                Map of Gillingham

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                Author

                Mark Greenham

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                Mark is a property news and onsite content writer at RWinvest. With a close eye on the UK property market, Mark helps our readers stay up-to-date with the property trends and statistics.

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