Story Highlights

• Canterbury had total property sales of £911 millions in 2016
• The total number of properties sold in 2016 was 2801
• The average sales price in Canterbury was £325 K, whereas the median was £265 K
• New Property sales were 3.39% by value, whereas Not New Property contributed 96.61%.
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp Duty changes did not have negative impact, there was strong growth of 7.68%

Canterbury is one of the districts of Kent.

Total Sales By Property Type

Canterbury had total property sales of £911 millions which was 9.77% of the total Kent Property Market 2016

The split £911 millions across the different property types are:

• Detached £326 millions (35.8%)
• Semi-Detached £205 millions (22.4%)
• Terraced £176 millions (19.36%)
• Flat/Maisonette £102 millions (11.19%)
• Other £102 millions (11.18%)

Canterbury Property Market at Postcode Level

Month-wise Break-up of Total Sales

 Some of the insights based on the £911 millions month-wise break-down :

Stamp Duty Hike Impact

1. March had property sale spike of £131 millions compared to £69 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 has been 7.68% in 2016 over 2015
3. Brexit coupled with Stamp Duty Hike did not have negative impact and there was robust growth

Total No Of Properties Sold By Property Type

 Canterbury had total property sales of 2801.  The split across different property types are:

• Detached 787 (28.1%)
• Semi-Detached 729 (26.03%)
• Terraced 628 (22.42%)
• Flat/Maisonette 545 (19.46%)
• Other 112 (4%)

Average & Median Sales Price

  The average sales price in Canterbury was £325 K and for different property types it was:

• Detached £414 K
• Semi-Detached £281 K
• Terraced £281 K
• Flat/Maisonette £187 K
• Other it is £910 K

Similarly median sales price in Canterbury was £265 K and for different property types are:

• Detached £363 K
• Semi-Detached £263 K
• Terraced £255 K
• Flat/Maisonette £180 K
• Other it is £154 K

New Vs Not New Property Statistics

 By Sales Value the split is as follows:

• New Property contributed £31 millions (3.39%)
• Not New Property contributed £880 millions (96.61%)

By Total Number the split is as follows:

• New properties sold were 103 (3.68%)
• Not new property sold were 2,698 (96.32%)

 All Kent Posts