Story Highlights

• West London had total property sales of approx. £14 billions in 2016
• The maximum sales was in Richmond Upon Thames at £2.55 billions
• The total number of West London properties sold in 2016 was 21,484
• The average sales price in West London was £654 K, whereas median was £457 K
• By borough the average price was maximum in Hammersmith And Fulham at £991 K
• New Property sales were 10.43% by value, whereas Not New Property contributed 89.57%
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp Duty changes caused significant decline in West London Property Market 2016 over 2015

 

West London boroughs are Brent, Ealing, Hammersmith & Fulham, Harrow, Hillingdon, Hounslow, Richmond upon Thames

 

Total Sales By Borough

West London in 2016 had total property sales of £14 billions. It was 18.48% of the London Property Market 2016.

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

• Richmond Upon Thames £2.55 billions (18.18%)
• Hammersmith And Fulham £2.39 billions (17.04%)
• Ealing £2.18 billions (15.51%)
• Brent £1.9 billions (13.62%)
• Hounslow £1.86 billions (13.27%)
• Hillingdon £1.8 billions (12.8%)
• Harrow £1.35 billions (9.58%)

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

•  All the boroughs have shown decline in total sales by value.
• The decline in West London property market has been 7.14% 

 

 

Total Sales By Property Types

The split across the different property types are:

• Detached at £1.19 billions (8.48%)
• Other at £2.16 billions (15.36%)
• Semi-Detached at £2.35 billions (16.75%)
• Terraced at £3.5 billions (25.14%)
• Flat/Maisonette at £4.8 billions (34.27%)

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

• All the property types have shown decline in sales except Other
• Others has shown growth of 6.93% in total sales value

 

 

Month-wise Break-up of Total Sales

Stamp Duty Hike Impact

1. March had property sale spike of £2.42 billions  compared to £1.03  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 dip in property sales in the immediate aftermath of Brexit 
3. Year on Year the property market for West London has declined by £1 billions i.e. 6.93% over 2015

 

 

Total Number Of Sales By Property Types

The total number of properties sold in West London 2016 was 21,484

• Detached 1,118 (5.2%)
• Semi-Detached 3,515 (16.36%)
• Terraced 5,057 (23.54%)
• Flat/Maisonette 10,838 (50.45%)
• Other 956 (4.45%)

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

• Total number of property sales in West London has decreased by 3,404 which is 15.84% decline
• All property types have shown decline in number of properties sold except property type Other
• Other has shown significant increase  of 53% from 627 in 2015 to 956 in 2016.

 

 

Average & Median Sales Price

The average sales price in West London was £654 K. For the different property types it was:

• Detached £1.07 millions
• Semi-Detached £670 K
• Terraced £698 K
• Flat/Maisonette £444 K
• Other it was £2.26 millions.

Similarly the median sales price in West London was £457 K. For the different property types it was:

• Detached £825 K
• Semi-Detached £530 K
• Terraced £525 K
• Flat/Maisonette £376 K
• Other it was £383 K

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

• The average and median sales price across all property types have gone up except for others

 

 

Average & Median Sales Price By Borough

The average sales prices in West London at Borough level is as above.

• The maximum average sales price is for Hammersmith And Fulham £991 K
• Richmond Upon Thames £835 K
• Ealing £636 K
• Hounslow £607 K
• Brent £580 K
• Hounslow £607 K
• Harrow £514 K
• with minimum for Hillingdon at £499 K

 The median sales prices in West London at Borough level is as above:

• The maximum median sales price was for Hammersmith And Fulham £703 K
• Richmond Upon Thames £600 K
• Ealing £446 K
• Brent £445 K
• Harrow £440 K
• Hillingdon at £390 K
• with minimum for Hounslow £380 K

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

• The average and median sales price across all the West London boroughs have gone up except for Hammersmith and Fulham
• Hammersmith and Fulham had decline in average and median sales price

 

 

New Vs Not New Property Statistics

By Value Of Sales

• The sales value contributed by New Property was £1.46 billions (10.43%)
• where as Not New Property contributed £12.6 billions (89.57%)

By Number Of Sales

• New properties sold were 2,809 (13.07%)
• where as not new property sold were 18,675 (86.93%).

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

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

 

 

All London Posts