Story Highlights

• Harrow had total Property Sales of £1.35 billions in 2016
• The total number of properties sold in year 2016 was 2,617
• The average property price was £514 K, while median was £440 K
• Not New Property contributed 92.77% and New Property contributed 7.23% by sales value
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp Duty changes caused decline of 15.6% in Total Sales compared to 2015

Harrow is one of the Boroughs of West London. It had total Property Sales of £1.35 billions which was 9.58% of West London Property Market 2016.

Total Sales By Property Type

The split of £1.35 billions across the different property types are:

• Semi-Detached: £378 millions (28.11%)
• Flat/Maisonette: £362 millions (26.87%)
• Terraced: £257 millions (19.08%)
• Detached: £229 millions (16.99%).
• Other: £120 millions (8.95%)

Year on Year Comparison : Compared to Harrow Property Market 2015 in 2016

• All the property types have shown decline in sales except Other
• Others has shown growth of 30.43% in total sales value
• Total sales value has shown a decline by 15.6% year on year

Harrow Property Market at Postcode Level

 For property market details at post code level please click on Postcode in the table above.

Month-wise Break-up of Total Sales

Stamp Duty Hike Impact

1. March had property sale spike of £276 millions  compared to £103 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 aftermath of Brexit 
3. Year on Year the property market for Harrow has declined by 15.6% over 2015

Total No Of Properties Sold By Property Type

In Harrow the total number of properties sold in year 2015 was 2,617. The breakdown by different property types are:

• Terraced: 528 (20.18%)
• Semi-Detached: 664 (25.37%)
• Other: 108 (4.13%)
• Flat/Maisonette: 1,089 (41.61%)
• Detached: 228 (8.71%).

Year on Year Comparison : Compared to Harrow Property Market 2015 in 2016

• Total number of property sales in Harrow has declined by 22.18%
• All property types have shown decline in number of properties sold except property type Other
• Other has shown significant increase  of 108% from 2015 to 2016

Average & Median Sales Price

In 2016 the Average property price was £514 K in Harrow. The average property price for the different property types are:

• Detached: £1 millions
• Flat/Maisonette: £332 K
• Other: £1.12 millions
• Semi-Detached: £570 K
• Terraced: £486 K

The Median property price was £440 K. The median property price for the different property types are:

• Detached: £868 K
• Flat/Maisonette: £320 K
• Other: £250 K
• Semi-Detached: £550 K
• Terraced: £475 K

Year on Year Comparison : Compared to Harrow Property Market 2015  in 2016

• The average and median prices have gone up for all property types except Others.

New Vs Not New Property Statistics

By Value Of Sales

• Not New Property contributed £1.25 billion (92.77%)
• New Property contributed £97 millions (7.23%) 

 By Number Of Sales

• The number of Not New Property sold were 272 (10.39%)
• whereas the number of New Property sold were 2,345 (89.61%) 

Year on Year Comparison : Compared to Harrow Property Market 2015  in 2016

• New property market share in property market has gone down in 2016 over 2015

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