Story Highlights

• East of England had total property sales of £36 billions in 2016.
• The total number of properties sold in 2016 was 112,401 properties.
• The total value of sales was maximum for Essex at £9.4 Billions
• The average sales price in East of England was £321 K, whereas median was £252 K
• The average sales at county level was maximum in Hertfordshire at £461 K 
• New Property contributed 8.7%, whereas Not New Property contributed 91.3% by value
• Stamp duty hike caused monthly spike in March
• Brexit coupled with Stamp Duty Hike did not have major impact in East of England Property Market 2016

 

East of England is one of the 9 principal areas of England.

It consists of the counties: Thurrock, Southend-on-Sea, Essex, Hertfordshire, Luton, Bedford, Central Bedfordshire, Cambridgeshire, City Of Peterborough, Norfolk, Suffolk. Essex has the highest population in the region.

 

Total Sales By County

East of England had total property sales of £36 billions. It contributed 12.14% of the England Wales Property Market 2016.

The split across its counties as above.

• Essex £9.4 Billions (26.14%)
• Hertfordshire £9.04 Billions (25.05%)
• Norfolk £4.16 Billions (11.54%)
• Sufflok £3.72 Billions (10.31%)
• Cambridgeshire £3.62 Billions (10.02%)
• Central Bedfordshire £1.74 Billions (4.82%)
• Southend-On-Sea £1.03 billions (2.86%)
• Thurrock £971 millions (2.69%)
• Bedford £929 millions (2.57%)
• City Of Peterborough £756 millions (2.09%)
• Luton £688 millions (1.91%)

Year on Year Comparison : Compared to East of England Property Market 2015 in 2016

• East of England property sales has shown growth of 5.88%
• All counties had growth over 2015 except City Of Peterborough

 

 

Total Value of Sales By Property Types

The split of £36 billions across the different property types are

• Detached at £13.17 billions (36.51%)
• Semi-Detached at £7.99 billions (22.14%) 
• Terraced at £7.7 billions (21.37%)
• Flat/Maisonette at £4.07 billions (11.27%) 
• Other at £3.14 billions (8.71%).

Year on Year Comparison : Compared to East of England Property Market 2015 in 2016

• All the property types sales have shown growth except Detached

 

 

Month-wise Break-up of Total Sales

Some of the insights based on the £36 Billions month-wise break-down :

Stamp Duty Hike Impact

1. March had property sale spike of £4.65 billions compared to £2.68 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 growth has been 5.88%
4. So Brexit does not seem to have had major impact on East Of England Property Market 2016

 

 

Total Number of Sales By Property Types

 

The total property sales of £36 Billions in 2016 was spread over 112,401 properties.

• Terraced properties was 30,398 (27.04%) 
• Detached 30,764 (27.37%)
• Semi-Detached 27,201 (24.2%)
• Flat/Maisonette 20,804 (18.51%)
• Others 3,234 (2.88%)

Year on Year Comparison : Compared to East of England Property Market 2015 in 2016

• Total number of property sales in 2016 has decreased by 3.81%.
• All property types have shown decline in number of properties sold except property type Flat/Maisonette and Other.
• Other has shown significant increase of 83% 

 

Average & Median Sales Price 

The average sales price in East of England was £321 K. For the different property types it was

• Detached at £428 K,
• Semi-Detached at £294 K,
• Terraced at £254 K,
• Flat/Maisonette at £196 K
• Other it is at £972 K

Median sales price in East of England was £252 K. For different property types it was

• Detached at £355 K,
• Semi-Detached at £260 K,
• Terraced at £230 K,
• Flat/Maisonette at £175 K
• Other it is at £300 K

Year on Year Comparison : Compared to East of England Property Market 2015 in 2016

• The average and median property prices have gone up except for property type Other
• Other has had decline in average and median property price

 

 

Average & Median Sales Price By County

The average of sales price at county level in East Of England in 2016 is as above.

• The maximum is in Hertfordshire at £461 K
• Essex at £342 K
• Cambridgeshire at £324 K
• Thurrock at £299 K
• Central Bedfordshire at £299 K
• Bedford at £287 K
• Southend-On-Sea at £276 K
• Suffolk at £266 K
• Luton at £246 K  
• Norfolk at £236 K
• City Of Peterborough at £207 K

The median of sales price at county level in East Of England in 2016 is as above.

• The maximum is in Hertfordshire at £353 K
• Essex at £275 K
• Central Bedfordshire at £268 K
• Cambridgeshire at £260 K
• Thurrock at £255 K
• Bedford at £240 K
• Southend-On-Sea at £235 K
• Luton at £220 K
• Suffolk at £210 K
• Norfolk at £198 K
• City Of Peterborough at £160 K

Year on Year Comparison : Compared to East of England Property Market 2015 in 2016

• The average and median sales price across all the counties have gone up except for City Of Peterborough
• The  median sales price across all the counties have gone up

 

 

New Vs Not New Property Statistics

By Value Of Sales

• The sales value contributed by New Property was £3.14 billions (8.7%)
• where as Not New Property contributed £32.9 billions (91.3%).

By Number Of Sales

• New properties sold were 10,191 (9.07%)
• where as not new property sold were 102,210 (90.93%).

Year on Year Comparison : Compared to East of England Property Market 2015 in 2016

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

 

All East of England Posts

 

 

 

Story Highlights

• Thurrock had total property sales of £750 millions in 2015.
• The total number of properties sold in 2015, in Thurrock was 3,021
• The average sales price in Thurrock was £248 K whereas median was £220 K
• New Property sales in Thurrock contributed 11.6% and Not New Property contributed 88.4%

 

Thurrock has unitary authority status in East of England.

 

Total Sales By Property Type

Thurrock had total property sales of £750 millions .

It was 2.18% of East England Property Market 2015. 

The split across the different property types was:

• Terraced at £248 millions (33.12%)
• Semi-Detached at £198 millions (26.39%)
• Flat/Maisonette at £117 millions (15.6%)
• Detached at £110 millions (14.7%)
• Other at £76 millions (10.18%)

 

 

Total No Of Properties Sold By Property Type

The total property sales of £750 millions in 2015 was spread over 3,021 properties.

• Terraced properties at 1,122 (37.14%) 
• Detached at 290 (9.6%)
• Semi-Detached at 747 (24.73%)  
• Flat/Maisonette at 832 (27.54%)
• Others at 30 (0.99%). 

 

 

Average & Median Sales Price

The average sales price in Thurrock was £248 K.

For the different property types it was:

• Detached at £380 K
• Semi-Detached at £265 K
• Terraced at £221 K
• Flat/Maisonette at £141 K
• Other it is at £2.55 millions.

 

Similarly median sales price in Thurrock was £220 K.

For the different property types it was:

• Detached at £360 K
• Semi-Detached at £257 K
• Terraced at £220 K
• Flat/Maisonette at £141 K
• Other it is at £426 K

 

 

New Vs Not New Property Statistics

By Sales Values the split is as follows:

• New Properties contributed £87 millions (11.6%) 
• Not New Property contributed £663 millions (88.4%)

 

By Total Number the split is as follows:

• New properties sold were 372 (12.31%)
• Not new property sold were  2,649 (87.69%)

 

All East of England Posts

Story Highlights

• Suffolk had total property sales of £3.6 Billions in 2015
• The total number of properties sold in 2015 in Essex was 14,357
• The total volume of sales at district level was maximum for Suffolk Costal at £782 millions
• The average sales price in Suffolk was £252 K whereas median was £196 K
• The average sales price at district level was maximum for St Edmundsbury at £299 K
• Similarly the median of sales price at district level was maximum for Suffolk Coastal at £242 K
•  New Property sales in Suffolk contributed 8.29% and  Not New Property contributed 91.71%

 

Suffolk is one of the counties of East England.The districts of Suffolk are Suffolk Coastal, St Edmundsbury, Ipswich, Mid Suffolk, Babergh, Waveney, Forest Heath.

 

 

 

 Total Sales By Districts

The total sales of £3.6 Billions in 2015 contributed 10.5% of East England Property Market 2015 . 

The split across its districts is as follow:

• Suffolk Coastal  was maximum at £782 millions (21.62%)
• St Edmundsbury at £637 millions (17.61%)
• Ipswich at £582 millions (16.11%)
• Mid Suffolk at £483 millions (13.36%)
• Babergh at £424 millions (11.73%)
• Waveney at £418 millions (11.56%)
• Forest Heath was minimum at £290 millions (8.01%)

 

 

Total Sales By Property Type

The split of £3.6 Billions across the different property types are :

• Detached at £1.623 Billions (44.9%)
• Terraced at £755 millions (20.89%)
• Semi-Detached at £720 millions (19.93%)
• Flat/Maisonette at £203 millions (5.61%)
• Other at £313 millions (8.67%)

 

 

 

Total No Of Properties Sold By Property Type

The total property sales of £3.6 Billions in 2015 was spread over 14,357 properties.

• Terraced properties at 4,252 (29.62%) 
• Detached at  4,917 (34,25%)
• Semi-Detached at  3,526 (24.56%)  
• Flat/Maisonette at 1,431 (9.97%)
• Others at 231 (1.61%). 

 

 

 

Average & Median Sales Price

The average sales price in Suffolk was £252 K. For the different property types it was:

• Detached at £330 K
• Semi-Detached at £204 K
• Terraced at £178 K,
• Flat/Maisonette at £142 K
• Other it is at £1.36 millions.

 

Similarly median sales price in Suffolk was £196 K. For the different property types it was:

• Detached at £290 K
• Semi-Detached at £185 K
• Terraced at £160 K
• Flat/Maisonette at £120 K
• Other it is at £325 K

 

 

 

Average & Median Sales Price By Districts

The average of sales prices at district level in Suffolk for 2015 is as follows:

• St Edmundsbury was maximum at £299 K
• Suffolk Coastal at £283 K
• Babergh at £278 K
• Mid Suffolk at £253 K
• Ipswich at £235 K
• Forest Heath at £206 K
• With minimum for Waveney at £195 K

 

The average of median prices at district level in Suffolk for 2015 is as follows.

• Suffolk Coastal was maximum at £242 K
• St Edmundsbury at £236 K
• Babergh at £230 K
• Mid Suffolk at £215 K
• Forest Heath at £178 K
• Waveney at £160 K
• With minimum for Ipswich at £155 K

 

 

 

New Vs Not New Property Statistics

By Sales Values the split is as follows:

• New Properties contributed £300 millions (8.29%) 
• Not New Property contributed £3.32 billions (91.71%)

 

By Total Number the split is as follows:

• New properties sold were 1,127  (7.85%)
• Not new property sold were 13,230 (92.15%)

 

All England Posts

Story Highlights

• Southend-On-Sea had total property sales of £985 millions in 2015.
• The total number of properties sold in 2015, in Southend-On-Sea was 3,712
• The average sales price in Southend-On-Sea was £265 K whereas median was £220 K
•  New Property sales in Southend-On-Sea contributed 9.41% and Not New Property contributed 90.59%

 

Southend-On-Sea has unitary authority status in East of England.

 

Total Sales By Property Type

Southend-On-Sea had total sales of £985 millions.

It was 2.86% of East England Property Market 2015. 

The split across the different property types are :

• Semi-Detached at £271 millions (27.5%)
• Detached at £224 millions (22.75%)
• Flat/Maisonette at £218 millions (22.18%)
• Terraced at £191 millions (19.41%)
• Other at £80 millions (8.15%)

 

 

Total No Of Properties Sold By Property Type

The total property sales of £985 millions in 2015 was spread over 3,712 properties.

• Terraced properties at 816 (21.98%) 
• Detached at 529 (14,25%)
• Semi-Detached at 937 (25.24%)  
• Flat/Maisonette at 1,365 (36.77%)
• Others at  65 (1.75%). 

 

 

Average & Median Sales Price

The average sales price in Southend-On-Sea was £265 K.

For the different property types it was:

• Detached at £424 K
• Semi-Detached at £289 K
• Terraced at £234 K
• Flat/Maisonette at £160 K
• Other it is at £124 millions.

 

Similarly median sales price in Southend-On-Sea was £220 K.

For the different property types it was:

• Detached at £380 K
• Semi-Detached at £260 K
• Terraced at £217 K
• Flat/Maisonette at £145 K
• Other it is at £356 K

 

 

 

New Vs Not New Property Statistics

By Sales Values the split is as follows:

• New Properties contributed £30 millions (9.41%) 
• Not New Property contributed £955 millions (90.59%)

 

By Total Number the split is as follows:

• New properties sold were 98 (8.87%)
• Not new property sold were 3,614 (91.13%).

 

All East of England Posts