Story Highlights

• Shepway had total property sales of £627 millions in 2016
• The total number of properties sold in 2016 was 2290
• The average sales price in Shepway was £274 K, whereas the median was £220 K
• New Property sales were 9.25% by value, whereas Not New Property contributed 90.75%.
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp Duty changes did not have negative impact, there was robust growth of 16%

 Shepway is one of the districts of Kent

Total Sales By Property Type

Shepway had total property sales of £627 millions which was % of the total Kent Property Market 2016

The split £627 millions across the different property types are:

• Detached £212 millions (33.8%)
• Semi-Detached £130 millions (20.78%)
• Terraced £127 millions (20.27%)
• Flat/Maisonette £97 millions (15.52%)
• Other £60 millions (9.63%)

Shepway Property Market at Postcode Level

Month-wise Break-up of Total Sales

Some of the insights based on the £627 millions month-wise break-down :

Stamp Duty Hike Impact

1. March had property sale spike of £78 millions compared to £46 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 16% in 2016 over 2015
3. Brexit coupled with Stamp Duty Hike did not have negative impact on Shepway Property Market in 2016

Total No Of Properties Sold By Property Type

Shepway had total property sales of 2290.  The split across different property types are:

• Terraced 617 (26.94%)
• Flat/Maisonette 586 (25.59%)
• Detached 528 (23.06%)
• Semi-Detached 498 (21.75%)
• Other 61 (2.66%)

Average & Median Sales Price

  The average sales price in Shepway was £274 K and for different property types it was:

• Detached £401 K
• Semi-Detached £262 K
• Terraced £206 K
• Flat/Maisonette £166 K
• Other it is £990 K

Similarly median sales price in Shepway was £220 K and for different property types are:

• Detached £350 K
• Semi-Detached £238 K
• Terraced £193 K
• Flat/Maisonette £139 K
• Other it is £250 K

New Vs Not New Property Statistics

 By Sales Value the split is as follows:

• New Property contributed £58 millions (9.25%)
• Not New Property contributed £569 millions (90.75%)

By Total Number the split is as follows:

• New properties sold were 165 (7.21%)
• Not new property sold were 2,125 (92.79%)

 All Kent Posts