Story Highlights

• Gravesham had total property sales of £428 millions in 2016
• The total number of properties sold in 2016 was 1449
• The average sales price in Gravesham was £296 K, whereas the median was £260 K
• New Property sales were 0.57% by value, whereas Not New Property contributed 99.43%.
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp Duty changes  did not cause decline, there was growth of 1.18%

Gravesham is one of the districts of Kent

Total Sales By Property Type

Gravesham had total property sales of £428 millions which was 4.59% of the total Kent Property Market 2016

The split £428 millions across the different property types are:

• Terraced £143 millions (33.47%)
• Semi-Detached £118 millions (27.51%)
• Detached £96 millions (22.31%)
• Flat/Maisonette £46 millions (10.66%)
• Other £26 millions (6.05%)

Gravesham Property Market at Postcode Level

Month-wise Break-up of Total Sales

 Some of the insights based on the £428 millions month-wise break-down :

Stamp Duty Hike Impact

1. March had property sale spike of £55 millions compared to £31 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 1.18% in 2016 over 2015
3. Brexit coupled with Stamp Duty Hike did not cause decline of Gravesham Property Market in 2016

Total No Of Properties Sold By Property Type

 Gravesham had total property sales of 1449.  The split across different property types are:

• Terraced 552 (38.1%)
• Semi-Detached 365 (25.19%)
• Flat/Maisonette 290 (20.01%)
• Detached 201 (13.87%)
• Other 41 (2.83%)

Average & Median Sales Price

 The average sales price in Gravesham was £296 K and for different property types it was:

• Detached £475 K
• Semi-Detached £323 K
• Terraced £260 K
• Flat/Maisonette £157 K
• Other it is £632 K

Similarly median sales price in Gravesham was £260 K and for different property types are:

• Detached £450 K
• Semi-Detached £302 K
• Terraced £250 K
• Flat/Maisonette £156 K
• Other it is £260 K

New Vs Not New Property Statistics

 By Sales Value the split is as follows:

• New Property contributed £2 millions (0.57%)
• Not New Property contributed £426 millions (99.43%)

By Total Number the split is as follows:

• New properties sold were 8 (0.55%)
• Not new property sold were 1,441 (99.45%)

 All Kent Posts