Story Highlights

• Hastings had total property sales of £444 millions in 2016
• The total number of properties sold in 2016 was 2,021 properties
• The average sales price in Hastings was £220 K
• New Property sales were 1.39% by value, where as Not New 98.61%
• Stamp duty hike caused monthly spike in March
• Brexit coupled and Stamp Duty Hike did not have negative impact , there was growth of 10.72% in 2016 over 2015

Hastings is one of the districts of East of Sussex

Total Sales By Property Type

Hastings had total property sales of £444 millions which was 12.81% of the East of Sussex Property Market 2016

The split across the different property types are:

• Terraced £121 millions (27.21%)
• Detached £117 (26.33%)
• Flat/Maisonette £99 millions (22.21%)
• Semi-Detached £80 millions (17.97 %)
• Other £28 millions (6.28%)

Hastings Property Market at Postcode level

Month-wise Break-up of Total Sales

Some of the insights based on the £444 millions month-wise break-down :

Stamp Duty Hike Impact

• March had property sale spike of £58 millions compared to £38 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.
• As can be observed from the month-wise break-up there does not seem to have been dip in property sales in the immediate aftermath of Brexit 
• Year on Year growth has been 10.72% in 2016 over 2015
• So Brexit and Stamp Duty changes did not have negative impact on the Wealden Property Market  in 2016

Total No Of Properties Sold By Property Type

The total property sales of £444 millions in 2016 was spread over 2,021 properties.

• Flat/Maisonette 721(35.68%)
• Terraced properties was 566(28.01%)
• Detached 360(17.81%)
• Semi-Detached 321(15.88%)
• Others 53(2.62%)

Average & Median Sales Price

The average sales price in Hastings was £220 K and for the different property types it was:

• Detached £325 K
• Semi-Detached £249 K
• Terraced £214 K
• Flat/Maisonette £137 K
• Other £526 K

Similarly median sales price in Hastings was £192 K and for the different property types was:

• Detached £300 K
• Semi-Detached £230 K
• Terraced £193 K
• Flat/Maisonette £126 K
• Other  £230 K

New Vs Not New Property Statistics

By Sales Values the split is as follows:

• New Property contributed £6 millions (1.39%)
• Not New Property contributed £438 millions (98.61%)

By Total Number the split is as follows:

• New properties sold were 23 (1.14%)
• Not new property sold were 1,998 (98.86%)

All East of Sussex Posts