Story Highlights
- Fareham had total property sales of £649 millions in 2016
- The total number of properties sold in 2016 was 2,173 properties
- The average sales price in Fareham was £299 K
- New Property sales were 6.26% by value, where as Not New 93.74%
- Stamp duty hike caused monthly spike in March
- Brexit coupled with Stamp Duty Hike have had significant negative impact on Fareham Property Market in 2016, there was decline of 22.6% over 2015
Fareham is one of the districts in Hampshire
Total Sales By Property Type
Fareham had total property sales of £649 millions, which was 7.16% of the total Hampshire property Market in 2016
The split across the different property types are:
- Detached £291 millions (44.85%)
- Semi-Detached £150 millions (23.12%)
- Terraced £118 millions (18.25%)
- Flat/Maisonette £60 millions (9.22%)
- Other £30 millions (4.56%)
Fareham Property Market at Postcode Level
Month-wise Break-up of Total Sales
Some of the insights based on the £649 millions month-wise break-down :
Stamp Duty Hike Impact
- March had property sale spike of £74 millions compared to £56 millions in Feb
- The impetus for it was to avoid the extra 3% in Stamp Duty Tax applicable on buying an additional home, being applicable from April 1 2016
Brexit Impact
- Brexit took place on 23rd June 2016.
- Year on Year decline has been 22.6%
- So Brexit and Stamp Duty changes have had significant negative impact on Hampshire Property Market in 2016
Total No Of Properties Sold By Property Type
The total property sales of £649 millions in 2016 was spread over 2,173 properties.
- Detached 667 (30.69%)
- Semi-Detached 559 (25.72%)
- Terraced 507 (23.33%)
- Flat/Maisonette 393 (18.09%)
- Other 47 (2.16%)
Average & Median Sales Price
The average sales price in Fareham was £299 K and for the different property types it was:
- Detached £437 K
- Semi-Detached £269 K
- Terraced £234 K
- Flat/Maisonette £152 K
- Other £630 K
Similarly median sales price in Fareham was £260 K and for the different property types it was:
- Detached £388 K
- Semi-Detached £263 K
- Terraced £225 K
- Flat/Maisonette £148 K
- Other £300 K
New Vs Not New Property Statistics
By Sales Values the split is as follows:
- New Property contributed £41 millions (6.26%)
- Not New Property contributed £608 millions (93.74%)
By Total Number the split is as follows:
- New properties sold were 181 (8.33%)
- Not new property sold were 1,992 (91.67%)
All Hampshire Posts
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