Story Highlights

• South London had total property sales of approx. £14 billions in 2016
• The maximum sales was in Wandsworth at £4.88 billions
• The total number of South London properties sold in 2016 was 25,354
• The average sales price in South London was £562 K, whereas median was £425 K
• By borough the average price was maximum in Wandsworth at £832 K and median at £630 K
• New Property sales were 10.36% by value, whereas Not New Property contributed 89.64%
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp Duty caused 6.7% decline in total sales compared to 2015

 

South London is the southern part of London. South London boroughs in Greater London are Bromley, Croydon, Kingston Upon Thames, Merton, Sutton, Wandsworth

 

 

Total Sales By Borough

South London had total sales of £14 billions in 2016. It was 18.75 % of  London Property Market 2016.

The split across its borough is as above.

• Wandsworth £4.88 billions (34.21%)
• Bromley £2.67 billions (18.72%)
• Croydon £2.24 billions (15.69%)
• Merton £1.74 billions (12.22%)
• Kingston Upon Thames £1.4 billions (9.81%)
• Sutton £1.3 billions (9.36%).

Year on Year Comparison : Compared to South London Property Market 2015 in 2016

• Except Wandsworth all boroughs have shown decline in total sales by value.
• Wandsworth has shown modest growth of 6% year on year

 

 

Total Sales By Property Types

The split of £14 billions across the different property types are:

• Detached £1.82 billions (12.74%)
• Semi-Detached £2.32 billions (16.24%)
• Terraced £3.77 billions (26.48%)
• Other £1.33 billions (9.32%)
• Flat/Maisonette £5.02 billions (35.22%)

Year on Year Comparison : Compared to South London Property Market 2015 in 2016

• All the property types have shown growth in sales except Terraced and Flat/Maisonette.
• Others has growth of 16.67 % in total sales value

 

 

 

Month-wise Break-up of Total Sales

 

Stamp Duty Hike Impact

1. March had property sale spike of £ 2.33 billions  compared to £ 1.14 billions 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 South London has shown a decline of 6.67% over 2015

 

 

 

Total Number Of Sales By Property Types

 The total number of properties sold in South London 2016 was 25,354. It is split as:

• Detached 2,003 (7.9%)
• Semi-Detached 3,918 (15.45%)
• Terraced 6,691 (26.39%)
• Flat/Maisonette 11,950 (47.13%)
• Other 792 (3.12%) 

Year on Year Comparison : Compared to South London Property Market 2015 in 2016

• Total number of property sales in South London has decreased  by 3,407 which is 11.85% decline
• All property types have shown decline in number of properties sold except property type Other
• Other has shown significant increase  of 63% from 486 in 2015 to 792 in 2016.

 

 

 

Average & Median Sales Price

 

The average sales price in South London was £562 K. For the different property types it was:

• Detached £906 K
• Semi-Detached £591 K
• Terraced £564 K
• Flat/Maisonette £420 K
• Other it is £1.7 millions.

Similarly the median sales price in South London was £425 K. For the different property types it was:

• Detached £712 K
• Semi-Detached £500 K
• Terraced £435 K
• Flat/Maisonette £340 K
• Other it is £370 K

Year on Year Comparison : Compared to South London Property Market 2015

• The average and median sales price across all property types have gone up except for others
• Others has shown decline in average and median sales price

 

 

 

Average & Median Sales Price By Borough

 In South London the Average Sales Price is as above.

• The average sales prices was maximum in Wandsworth at £832 K
• Merton at £609 K
• Kingston Upon Thames at £598 K
• Bromley at £496 K
• Sutton at £414 K
• Minimum for Croydon at £393 K

 In South London the median Sales Price is as above.

• The median sales was maximum in Wandsworth at £630 K
• Kingston Upon Thames at £460 K
• Merton at £443 K
• Bromley at £415 K
• Sutton at £350 K
• Minimum for Croydon at £332 K

Year on Year Comparison : Compared to South London Property Market 2015 in 2016

• The average and median sales price across all the South London boroughs have gone up with Wandsworth leading the pack.

 

 

 

New Vs Not New Property Statistics

By Value Of Sales

• The sales value contributed by New Property was £1.476 billions (10.36%)
• Not New Property contributed £12.8 billions (89.64%)

By Number Of Sales

• New properties sold were 2,400 (9.47%)
• Not new property sold were 22,954 (90.53%)

Year on Year Comparison : Compared to South London Property Market 2015  in 2016

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

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