Story Highlights

• Isle of Wight had total Property Sales of £726 millions  in 2016
• The total number of properties sold in year 2016 was 3253
• The Average property price was £223 K in Isle of Wight while Median was £190 K
• The sales value contributed by New Property was 3.9% where as Not New Property 96.1% 
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp Duty changes did not cause decline and there was growth of 1% 

Isle of Wight has unitary authority status in South East England.

Total Sales By Property Type

Isle of Wight had total property sales of £726 million which was 1.17% of the total South East property Market in 2016. 

 The split of £726 millions in Isle of Wight across the different property types are:

• Detached £340 millions (46.92%)
• Semi-Detached £154 millions (21.21%)
• Terraced £105 millions (14.52%)
• Flat/Maisonette £95 millions (13.15%)
• Other £30 millions (4.19%)

Year on Year Comparison : Compared to Isle of Wight Property Market 2015 in 2016

• All the property types sales have shown decline except Detached

Isle of Wight Property Market at Postcode Level

Month-wise Break-up of Total Sales

Some of the insights based on the £726 millions month-wise break-down :

Stamp Duty Hike Impact

1. March had property sale spike of £124 millions compared to £55 millions in Feb
2. 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

1. Brexit took place on 23rd June 2016.
2. Year on Year growth (compared to 2015) has been 1.12% in 2016
3. Brexit coupled with Stamp Duty Hike have not had negative impact on Isle of Wight Property Market in 2016

Total No Of Properties Sold By Property Type

 Isle of Wight had total property sales of 3253.  The split across different property types are:

• Detached 1,072 (32.95%)
• Semi-Detached 769 (23.64%)
• Flat/Maisonette 671 (20.63%)
• Terraced 619 (19.03%)
• Other 122 (3.75%)

Year on Year Comparison :  Compared to Isle of Wight Property Market 2015 in 2016

• Total number of property sales in 2016 has decreased by 1%.
• All property types have shown growth in number of properties sold except property type Semi-Detached, Other.
• Other has shown growth of 130%

Average & Median Sales Price

The average sales price in Isle of Wight was £223 K. For the different property types it was

• Detached at £318 K
• Semi-Detached at £200 K
• Terraced at £170 K
• Flat/Maisonette at £142 K
• Other it is at £249 K

Similarly median sales price in Isle of Wight was £190 K. For different property types it was

• Detached at £272 K
• Semi-Detached at £183 K
• Terraced at £159 K
• Flat/Maisonette at £122 K
• Other it is at £150 K

Year on Year Comparison : Compared to Isle of Wight Property Market 2015 in 2016

• The average and median property prices have gone down except for property type Detached, Semi-Detached.
• Other had massive decline in average and median property price

New Vs Not New Property Statistics

 By Sales Value the split is as follows:

• New Property contributed £28 millions (3.9%)
• Not New Property contributed £697 millions (96.1%)

By Total Number the split is as follows:

• New properties sold were 124 (3.81%)
• Not new property sold were 3129 (96.19%)

Year on Year Comparison : Compared to Isle of Wight Property Market 2015 in 2016

• New property market share in property market has gone down

All South East England Post