Story Highlights

• Tonbridge and Malling had total property sales of £938 millions in 2016
• The total number of properties sold in 2016 was 2492
• The average sales price in Tonbridge and Malling was £376 K, whereas the median was £320 K
• New Property sales were 15.74% by value, whereas Not New Property contributed 84.26%.
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp Duty changes did not have negative impact, there was growth of 4%

Tonbridge and Malling is one of the districts of Kent.

Total Sales By Property Type

Tonbridge and Malling had total property sales of £938 millions which was 10.06% of the total Kent Property Market 2016

The split £938 millions across the different property types are:

• Detached £337 millions (35.97%)
• Semi-Detached £233 millions (24.85%)
• Terraced £188 millions (20.07%)
• Flat/Maisonette £104 millions (11.1%)
• Other £75 millions (8.02%)

Tonbridge and Malling Property Market at Postcode Level

Month-wise Break-up of Total Sales

 Some of the insights based on the £938 millions month-wise break-down :

Stamp Duty Hike Impact

1. March had property sale spike of £131 millions compared to £68 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 4% in 2016 over 2015
3. Brexit coupled with Stamp Duty Hike did not have negative impact and there was good growth in Tonbridge and Malling Property Market in 2016

Total No Of Properties Sold By Property Type

Tonbridge and Malling had total property sales of 2492.The split across different property types are:

• Terraced 654 (26.24%)
• Semi-Detached 640 (25.68%)
• Detached 606 (24.32%)
• Flat/Maisonette 438 (17.58%)
• Other 154 (6.18%)

Average & Median Sales Price

  The average sales price in Tonbridge and Malling was £376 K and for different property types it was:

• Detached £557 K
• Semi-Detached £364 K
• Terraced £288 K
• Flat/Maisonette £238 K
• Other it is £488 K

Similarly median sales price in Tonbridge and Malling was £320 K and for different property types are:

• Detached £495 K
• Semi-Detached £336 K
• Terraced £275 K
• Flat/Maisonette £225 K
• Other it is £153 K

New Vs Not New Property Statistics

 By Sales Value the split is as follows:

• New Property contributed £148 millions (15.74%)
• Not New Property contributed £790 millions (84.26%)

By Total Number the split is as follows:

• New properties sold were 407 (16.33%)
• Not new property sold were 2,085 (83.67%)

 All Kent Posts