The pretty seaside town dubbed 'new Brighton' where property prices are skyrocketing

Once a fading seaside resort, Folkestone has been reborn as one of Britain's most desirable coastal hotspots, especially for those priced out of London seeking a quieter life.

According to new research, house prices in the Kent town have rocketed 60% since 2015, with average price at £311,010. That closes the gap with both Kent (£349,720) and Brighton (£419,820).

Calling the town new Brighton, by The Telegraph added that over the past year alone, prices have risen 7%, more than three times Brighton's growth.

The turnaround is largely down to local Sir Roger De Haan. Over the last 20 years, his charitable trust has snapped up around 90 run-down buildings on the Old High Street, creating a buzzing creative quarter of cafés, galleries and studios. He also funded sports facilities, improved schools, and in 2004 bought Folkestone Harbour for £11 mmillion, later adding a 57-acre seafront site.

Today, the place is unrecognisable - an Instagram-ready parade of bars, restaurants and street-food stalls, with a champagne bar in the old lighthouse and live jazz in the former waiting rooms. The Folkestone Triennial has left permanent public artworks across the town, and new festivals celebrate music, film and even comic books.

The changes have drawn many new residents arriving from London like Paula Gardner, 56, who swapped a four-bed bungalow in north-east London for a Victorian terrace in 2021. "It had an energy about it which I really liked," she told The Telegraph. "Its transport links are better than Rye, which is where I was thinking of moving to originally, it was about £100,000 cheaper and it was full of lots of little independent coffee shops."

But not everyone is celebrating. Soaring prices are pushing out first-time buyers, and Sir Roger's plan to build 800 seafront homes has sparked backlash. The first tranche of new housing, Shoreline Crescent, was completed last year, with prices ranging from £330,000 to £2.1 million. Critics say the flats will do little to help locals and ease the housing crisis. A petition to block the "Folkestone Harbour blocks" has gained over 9,000 signatures, with objections to both cost and modern design.

Sir Roger noted the homes were on a brownfield site, so no existing houses were lost. He argued that his regeneration spurred other developers to build more affordable homes in the town, and said he could not be expected to solve the national housing crisis driving up prices for young buyers.

Folkestone's star may be rising, like with all towns, but the challenge is making sure its success doesn't leave locals behind.