Story Highlights

• Wealden had total property sales of £1.11 billions in 2016
• The total number of properties sold in 2016 was 2,991 properties
• The average sales price in Wealden was £370 K
• New Property sales were 4.48% by value, where as Not New 95.52%
• Stamp duty hike caused monthly spike in March
• Brexit coupled and Stamp Duty Hike did not have negative impact , there was growth of 9.82%in 2016 over 2015

 Wealden is one of the districts of East of Sussex

Total Sales By Property Type

Wealden had total property sales of £1.11 Billions which was 31.92% of the East of Sussex Property Market 2016

The split across the different property types are:

• Detached £562 (50.79%)
• Semi-Detached £249 millions (22.5%)
• Terraced £130 millions (11.72%)
• Other £94 millions (8.45%)
• Flat/Maisonette £72 millions (6.53%)

Wealden Property Market at Postcode level

Month-wise Break-up of Total Sales

Some of the insights based on the £1.11 Billions month-wise break-down :

Stamp Duty Hike Impact

1. March had property sale spike of £139 millions compared to £80 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. 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 
3. Year on Year growth has been 9.82% in 2016 over 2015
4. 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 £1.11 Billions in 2016 was spread over 2,991 properties.

• Detached 1139 (38.08%)
• Semi-Detached 833 (27.85%)
• Terraced  491(16.42%)
• Flat/Maisonette 409 (13.67%)
• Others  119 (3.98%)

Average & Median Sales Price

The average sales price in Wealden was £370 K and for the different property types it was:

• Detached £494 K
• Semi-Detached £299 K
• Terraced £264 K
• Flat/Maisonette £177 K
• Other it was £786 K

Similarly median sales price in Wealden was £294 K and for the different property types was:

• Detached £411 K
• Semi-Detached £268 K
• Terraced £250 K
• Flat/Maisonette £165 K
• Other it is £350 k

New Vs Not New Property Statistics

By Sales Values the split is as follows:

• New Property contributed £50 millions (4.48%)
• Not New Property contributed £1.06 billions (95.52%)

By Total Number the split is as follows:

• New properties sold were 177 (5.92%)
• Not new property sold were 2,814 (94.08%)

All East of Sussex Posts