Story Highlights
- Surrey had total property sales of £10.7 Billions in 2016,
- The year-on-year decline witnessed was 8% over 2015
- Stamp duty hike caused monthly spike in March
- The average sales price in Surrey was £527 K, whereas median was £410 K
- Across its districts average sales price in Surrey was maximum for Elmbridge at £764 K and was minimum for Epsom and Ewell at £663 millions
- New Property sales were 5.17% by value, whereas Not New Property contributed 94.83%
Total Sales By Districts
Surrey had total property sales of £10.7 Billions which was 17.34% of the total South East property Market in 2016
The split of the sales across the different districts was:
Year on Year Comparison : Compared to Surrey Property Market 2015 in 2016
- All districts except Woking, Spelthorne and Surrey Heath had decrease in total sales
Total Sales By Property Type
The split of £10.7 Billions in Surrey across the different property types are:
- Detached £4.4 billions (41.27%)
- Semi-Detached £2.3 billions (21.8%)
- Flat/Maisonette £1.6 billions (14.96%)
- Terraced £1.5 billions (14.11%)
- Other £842 millions (7.85%)
Year on Year Comparison : Compared to Surrey Property Market 2015 in 2016
- All the property types sales have shown decline except Flat/Maisonette and Other.
Month-wise Break-up of Total Sales
Some of the insights based on the £10.7 Billions month-wise break-down :
Stamp Duty Hike Impact
- March had property sale spike of £1.4 billions compared to £769 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 decrease (compared to 2015) has been 8% in 2016 impacted by Brexit
- Brexit coupled with Stamp Duty Hike had negative impact on Surrey Property Market in 2016
Total No Of Properties Sold By Property Type
Surrey had total property sales of 20347. The split across different property types are:
- Flat/Maisonette 5,549 (27.27%)
- Detached 5,353 (26.31%)
- Semi-Detached 4,928 (24.22%)
- Terraced 3,771 (18.53%)
- Other 746(3.67%)
Year on Year Comparison : Compared to Surrey Property Market 2015 in 2016
- Total number of property sales in 2016 has decreased by 8.22%.
- All property types have shown decline in number of properties sold except property type Other
- Other has shown significant increase of 108%
Average & Median Sales Price
The average sales price in Surrey was £527 K. For the different property types it was
- Detached at £827 K
- Semi-Detached at £475 K
- Terraced at £402 K
- Flat/Maisonette at £289 K
- Other it is at £1.1 millions
Similarly median sales price in Surrey was £410 K. For different property types it was
- Detached at £690 K
- Semi-Detached at £435 K
- Terraced at £365 K
- Flat/Maisonette at £270 K
- Other it is at £360 K
Year on Year Comparison : Compared to Surrey Property Market 2015 in 2016
- The average and median property price have gone up except for property type Other
Average & Median Sales Price By Districts
Across districts the average sales price is as above.
Across districts the median sales price is as above.
Year on Year Comparison : Compared to Surrey Property Market 2015 in 2016
- The average sales price across all the counties have gone up except Tandridge
- The median sales price across all the counties have gone up.
New Vs Not New Property Statistics
By Sales Value the split is as follows:
- New Property contributed £555 millions (5.17%)
- Not New Property contributed £10.18 billions (94.83%)
By Total Number the split is as follows:
- New properties sold were 1,309 (6.43%)
- Not new property sold were 1,9038 (93.57%)
Year on Year Comparison : Compared to Surrey Property Market 2015 in 2016
- New property market share in property market has gone down.
All Surrey Posts
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