Story Highlights

• Thanet had total property sales of £729 millions in 2016
• The total number of properties sold in 2016 was 3172
• The average sales price in Thanet was £230 K, whereas the median was £199 K
• New Property sales were 3.47% by value, whereas Not New Property contributed 96.53%.
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp Duty changes did not have negative impact, there was growth of 11%

Thanet is one of the districts of Kent.

Total Sales By Property Type

Thanet had total property sales of £729 millions which was 7.82% of the total Kent Property Market 2016

The split £729 millions across the different property types are:

• Detached £208 millions (28.52%)
• Semi-Detached £184 millions (25.3%)
• Terraced £175 millions (23.97%)
• Flat/Maisonette £118 millions (16.12%)
• Other £44 millions (6.1%)

Thanet Property Market at Postcode Level

Month-wise Break-up of Total Sales

 Some of the insights based on the £729 millions month-wise break-down :

Stamp Duty Hike Impact

1. March had property sale spike of £111 millions compared to £57 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 11% in 2016 over 2015
3. Brexit coupled with Stamp Duty Hike did not have negative impact on Thanet Property Market in 2016

Total No Of Properties Sold By Property Type

 Thanet had total property sales of 3172. The split across the different property types are:

• Terraced 873 (27.52%)
• Flat/Maisonette 843 (26.58%)
• Semi-Detached 771 (24.31%)
• Detached 562 (17.72%)
• Other 123 (3.88%)

Average & Median Sales Price

 The average sales price in Thanet was £230 K and for the different property types it was:

• Detached £370 K
• Semi-Detached £239 K
• Terraced £200 K
• Flat/Maisonette £139 K
• Other it is £361 K

Similarly median sales price in Thanet was £199 K and for the different property types are:

• Detached £340 K
• Semi-Detached £230 K
• Terraced £183 K
• Flat/Maisonette £125 K
• Other it is £132 K

New Vs Not New Property Statistics

 By Sales Value the split is as follows:

• New Property contributed £25 millions (3.47%)
• Not New Property contributed £704 millions (96.53%)

By Total Number the split is as follows:

• New properties sold were 104 (3.28%)
• Not new property sold were 3,068 (96.72%)

 All Kent Posts