Story Highlights

• Lewes had total property sales of £644 millions in 2016
• The total number of properties sold in 2016 was 1,821 properties
• The average sales price in Lewes was £354 K
• New Property sales were 5.36% by value, where as Not New 94.64%
• Stamp duty hike caused monthly spike in March
• Brexit coupled and Stamp Duty Hike did not have negative impact , there was growth of 5.4%in 2016 over 2015

Lewes is one of the districts of East of Sussex

Total Sales By Property Type

Wealden had total property sales of £644 millions which was 18.58% of the East of Sussex Property Market 2016

The split across the different property types are:

• Detached £251 millions (38.91%)
• Terraced £136 millions (21.06%)
• Semi-Detached £135 millions (20.92%)
• Flat/Maisonette £81 millions (12.55%)
• Other £42 millions (6.55%)

Lewes Property Market at Postcode level

Month-wise Break-up of Total Sales

Some of the insights based on the £644 millions month-wise break-down :

Stamp Duty Hike Impact

• March had property sale spike of £83 millions compared to £51 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 5.4%in 2016 over 2015
• So Brexit and Stamp Duty changes did not have negative impact on the Lewes Property Market  in 2016

Total No Of Properties Sold By Property Type

The total property sales of £644 millions in 2016 was spread over 1,821 properties.

• Detached 545 (29.93%)
• Terraced 428 (23.5%)
• Semi-Detached 410 (22.52%)
• Flat/Maisonette 374 (20.54%)
• Others  64 (3.51%)

Average & Median Sales Price

The average sales price in Lewes was £354 K and for the different property types it was:

• Detached £460 K
• Semi-Detached £329 K
• Terraced £317 K
• Flat/Maisonette £216 K
• Other it was £660 K

Similarly median sales price in Lewes was £295 K and for the different property types was:

• Detached £383 K
• Semi-Detached £290 K
• Terraced £275 K
• Flat/Maisonette £189 K
• Other it is £328 K

New Vs Not New Property Statistics

By Sales Values the split is as follows:

• New Property contributed £35 millions (5.36%)
• Not New Property contributed £610 millions (94.64%)

By Total Number the split is as follows:

• New properties sold were 87 (4.78%)
• Not new property sold were 1,734 (95.22%)

 All East of Sussex Posts