West Berkshire Property Market Grows By 3.6% 2016, Beats Stamp Duty Hike and Brexit

24. April 2017 10:46 / VInsights Team / South East England / Comments (0)

Story Highlights

  • West Berkshire had total property sales of £1.14 billions in 2016
  • The total number of properties sold in 2016 was 2,542 properties
  • The average sales price in West Berkshire was £448 K, whereas median was £327 K
  • New Property sales were 4.9% by value, where as Not New Property contributed 95.1%
  • Stamp duty changes caused monthly spike in March
  • Brexit coupled with Stamp Duty Hike did not have impact as West Berkshire property market had growth of 3.6% in 2016 over 2015

 

West Berkshire is one of the districts of Berkshire.

Total Sales By Property Type
West Berkshire - Total Sales By Property Type

West Berkshire had total property sales of £1.14 billions, which was 17.35% of Berkshire Property Market 2016

The split across the different property types in West Berkshire are:

  • Detached £428 millions (37.6%) 
  • Semi-Detached £218 millions (19.14%)
  • Other £207 millions (18.15%)
  • Terraced £168 millions (14.71%)
  • Flat/Maisonette £118 millions (10.4%)

 

West Berkshire Property Market at Postcode level

Postcode Coverage Area School Local Authority Area
OX12 Wantage,Grove,Ardington,Charney Bassett,Childrey, Challow (East&West),Denchworth,Farnborough (Be rks),Fawley, Ginge (East & West),Hanney(East&a mp;West), Hendred (East&West),Kingston Lisle,L etcombe Bassett,Letcombe Regis,Lockinge(East&W est),Lyford,Sparsholt Details Vale Of White Horse, South Oxfordshire, West Berkshire
RG7 Aldermaston,Bradfield,Burghfield Common,Riseley,Si lchester,Mortimer,Swallowfield,Theale,Woolhampton Details West Berkshire,Basingstoke and Deane, Wokingham
RG8 Goring,Streatley,Pangbourne,Whitchurch-on-Thames Details South Oxfordshire, West Berkshire
RG14 Newbury(whole town area) Details West Berkshire
RG17 Chilton Foliat,Eastbury,Eddington,Kintbury,Hungerf ord,Inkpen,Lambourn, North Wessex Downs AONB area Details West Berkshire,Wiltshire
RG18 Hampstead Norreys,Hermitage,Thatcham(north),Yatten don Details West Berkshire
RG19 Ashford Hill with Headley,Bishops Green,Greenham, Thatcham (south) Details West Berkshire, Basingstoke and Deane
RG20 Ashmansworth,Chieveley,Compton,Ecchinswell,Leckham pstead,Highclere,Kingsclere,Sydmonton Details West Berkshire, Basingstoke and Deane
RG26 Baughurst,Bramley,Brimpton Common,Hannington,Pambe r End,Pamber Heath,Tadley Details Basingstoke and Deane, West Berkshire
RG30 Tilehurst, Prospect Park,Purley-on-Thames, Reading (west),Southcote Details Reading, West Berkshire
RG31 Calcot Row,Tilehurst Details Reading, West Berkshire
 

Month-wise Break-up of Total Sales
West Berkshire - Month-wise Break-up of Total Sales

Stamp Duty Hike Impact

  1. March had property sale spike of £141 millions compared to £63 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. As can be observed from the month-wise break-up there does not seem to have been  dip in property sales in the immediate after-math of Brexit 
  3. Year on Year property market in West Berkshire has had growth of 3.6%

 

Total No Of Properties Sold By Property Type
West Berkshire - Total No Of Properties Sold By Property Type

West Berkshire had total property sales of 2,542.  The split across the different property types are:

  • Detached 732 (28.8%)
  • Semi-Detached 617 (24.27%)
  • Terraced 555 (21.83%)
  • Flat/Maisonette 523 (20.57%)
  • Other 115 (4.52%)

 

Average & Median Sales Price
West Berkshire - Average & Median Sales Price

The average sales price in West Berkshire was £448 K and for the different property types it was:

  • Detached £585 K
  • Semi-Detached £353 K
  • Terraced £302 K
  • Flat/Maisonette £227 K
  • Other it is £1.8 million

Similarly median sales price in West Berkshire was £327 K and for the different property types are:

  • Detached £487 K
  • Semi-Detached £335 K
  • Terraced £280 K
  • Flat/Maisonette £200 K
  • Other it is £420 K

 

New Vs Not New Property Statistics
West Berkshire - New Vs Not New Property Statistics

By Sales Values the split is as follows:

  • New Property contributed £56 millions (4.9%)
  • Not New Property contributed £1.08 billions (95.1%)

By Total Number the split is as follows:

  • New properties sold were 132 (5.19%)
  • Not new property sold were 2,410 (94.81%)

 

All Berkshire Posts

 

 

 Reference

RG Postcode Area As Per Wikipedia

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