Story Highlights

• Eastbourne had total property sales of £601 millions in 2016
• The total number of properties sold in 2016 was 2,432 properties
• The average sales price in Eastbourne was £247 K
• New Property sales were 2.56% by value, where as Not New 97.44%
• Stamp duty hike caused monthly spike in March
• Brexit coupled and Stamp Duty Hike did not have negative impact , there was growth of 7.5% in 2016 over 2015

Eastbourne is one of the districts of East of Sussex

Total Sales By Property Type

Eastbourne had total property sales of £601 millions which was 17.33% of the East of Sussex Property Market 2016

The split across the different property types are:

• Flat/Maisonette £180 millions (29.98%)
• Terraced £163 millions (27.13%)
• Detached £138 (22.97%)
• Semi-Detached £98 millions (16.32%)
• Other £22 millions (3.61%)

Eastbourne Property Market at Postcode level

Month-wise Break-up of Total Sales

 Some of the insights based on the £601 millions month-wise break-down :

Stamp Duty Hike Impact

• March had property sale spike of £88 millions compared to £45 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 7.51%in 2016 over 2015
• So Brexit and Stamp Duty changes did not have negative impact on the Eastbourne Property Market  in 2016

Total No Of Properties Sold By Property Type

The total property sales of £601 millions in 2016 was spread over 2,432 properties.

• Flat/Maisonette 998 (41.04%)
• Terraced  674 (27.71%)
• Semi-Detached 357 (14.68%)
• Detached 346 (14.23%)
• Other 57 (2.34%)

Average & Median Sales Price

The average sales price in Eastbourne was £247 K and for the different property types it was:

• Detached £399 K
• Semi-Detached £275 K
• Terraced £242 K
• Flat/Maisonette £181 K
• Other it was £380 K

Similarly median sales price in Eastbourne was £220 K and for the different property types was:

• Detached £360 K
• Semi-Detached £250 K
• Terraced £225 K
• Flat/Maisonette £160 K
• Other it is £190 K

New Vs Not New Property Statistics

By Sales Values the split is as follows:

• New Property contributed £15 millions (2.56%)
• Not New Property contributed £586 millions (97.44%)

By Total Number the split is as follows:

• New properties sold were 76 (3.13%)
• Not new property sold were 2,356 (96.88%)

All East of Sussex Posts