Story Highlights

• Greenwich had total Property Sales of £1.9 billions in 2016.
• The total number of properties sold in year 2016 was 3910
• The Average property price was £478 K in Greenwich, while Median was £380 K
• Not New Property Contributed 75.6% by value and New Property 24.4%
• Stamp duty changes caused monthly spike
• Brexit and Stamp Duty changes has caused decline of 1.5% in total sales value compared to 2015

Greenwich is one of the Boroughs of East London. It had total Property Sales of £1.9 billions which was 11.38 % of East London Property Market 2016.

Total Sales By Property Type

The split of £1.9 billions across the different property types are:

• Flat/Maisonette £881 millions (47.13%)
• Terraced £492 millions (26.35%)
• Other £214 millions (11.45%)
• Semi-Detached £207 millions (11.06%)
• Detached £75 millions (4.01%).

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

• All the property types have shown decline in sales except others.
• Others has shown growth of about 7% year on year

Greenwich Property Market at Postcode level

For property market details at post code level please click on Postcode in the table above.

Month-wise Break-up of Total Sales

Stamp Duty Hike Impact

1. March had property sale spike of £313 millions  compared to £157 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 significant dip in property sales in the immediate aftermath of Brexit 
3. Year on Year the property market for Greenwich has shown a decline of 1.55%

Total No Of Properties Sold By Property Type

In Greenwich the total number of properties sold in year 2016 was 3910. The breakdown by different property types are:

• Terraced 1098(28.08%)
• Semi-Detached 381(9.74%)
• Other 99(2.53%)
• Flat/Maisonette 2251(57.57%)
• Detached 81(2.07%).

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

• Total number of property sales in Greenwich has declined by 12.47% year on year
• All property types have shown decline in number of properties sold except property type Other
• Other has shown significant increase  of 66%.

Average & Median Sales Price

In 2015 the Average property price was £478 K in Greenwich. The average price for the different property types are:

• Detached £925 K
• Flat/Maisonette £391 K
• Other £2.16 millions
• Semi-Detached £542 K
• Terraced £449 K.

The Median Price was £380 K. The median property price for the different property types are:

• Detached £600 K
• Flat/Maisonette £362 K
• Other £575 K
• Semi-Detached £475 K
• Terraced £375 K.

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

• The average and median sales price across all property types have gone up except for Others, Detached

New Vs Not New Property Statistics

By Value Of Sales

• Not New Property Contributed £1.41 billion (75.6%)
• New Property £456 millions (24.4%) 

 By Number Of Sales

• The number of Not New Property sold was 2960 (75.7%)
• The number of New Properties sold was 950 (24.3%) 

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

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

All London Posts