Story Highlights

• Bromley had total Property Sales of £2.67 billions in 2016
• The total number of properties sold in year 2016 was 5,380
• The Average property price was £496 K in Bromley, while Median was £415 K.
• Not New Property contributed 95.7% and New Property 4.3% by value
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp Duty played significant role in total sales value decline of 8.5% compared to 2015

Bromley is one of the Boroughs of South London. It had total Property Sales of  £2.67 billions which was 18.72% of South London Property Market 2016.

Total Sales By Property Type

The split of £2.67 billions across the different property types are:

• Semi-Detached £679 millions (25.44%)
• Detached £674 millions (25.26%)
• Flat/Maisonette £582 millions (21.8%)
• Terraced £581 millions (21.79%)
• Other £152 millions (5.71%)

Year on Year Comparison : Compared to Bromley Property Market 2015 in 2016

• All the property types have shown decline in sales value

Bromely Property Market at Postcode Level

Month-wise Break-up of Total Sales

Stamp Duty Hike Impact

1. March had property sale spike of £373 millions  compared to £201 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 the property market for Bromley has shown a decline of 8.5% over 2015

Total No Of Properties Sold By Property Type

 In Bromley the total number of properties sold in year 2016 was 5,380.

The breakdown by different property types are:

• Terraced 1,329 (24.7%)
• Semi-Detached 1,297 (24.11%)
• Other 116 (2.16%)
• Flat/Maisonette 1,818 (33.79%)
• Detached 820 (15.24%).

Year on Year Comparison : Compared to Bromley Property Market 2015 in 2016

• Total number of property sales in Bromley has declined by 15.5%
• All property types have shown decline in number of properties sold except property type Other
• Other has shown significant increase  of 54.5% 

Average & Median Sales Price

In 2016 the Average property price was £496 K in Bromley. The average price for the different property types are:

• Detached £822 K
• Flat/Maisonette £320 K
• Other £1.31 millions
• Semi-Detached £523 K
• Terraced £438 K

The Median Price was £415 K.The median property price for the different property types are

• Detached £737 K
• Flat/Maisonette £312 K
• Other £373 K
• Semi-Detached £495 K
• Terraced £410 K

Year on Year Comparison : Compared to Bromley Property Market 2015

• The average and median sales price across all property types have gone up except for others
• Others have shown decline in average and median sales price

New Vs Not New Property Statistics

By Value Of Sales

• Not New Property contributed £2.55 billions (95.7%)
• New Property £115 millions (4.3%) 

By Number Of Sales

• The number of Not New Property sold was 5,135 (95.45%)
• The number of New Property sold was 245 (4.55%) 

Year on Year Comparison : Compared to Bromley Property Market 2015  in 2016

• New property market share in property market has gone down in 2016 over 2015

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