Story Highlights

• Fareham had total property sales of £649 millions in 2016
• The total number of properties sold in 2016 was 2,173 properties
• The average sales price in Fareham was £299 K
• New Property sales were 6.26% by value, where as Not New 93.74%
• Stamp duty hike caused monthly spike in March
• Brexit coupled with Stamp Duty Hike have had significant negative impact on Fareham Property Market in 2016, there was decline of 22.6% over 2015

Fareham is one of the districts in Hampshire

Total Sales By Property Type

Fareham had total property sales of £649 millions, which was 7.16% of the total Hampshire property Market in 2016

The split across the different property types are:

• Detached £291 millions (44.85%)
• Semi-Detached £150 millions (23.12%)
• Terraced £118 millions (18.25%)
• Flat/Maisonette £60 millions (9.22%)
• Other £30 millions (4.56%)

Fareham Property Market at Postcode Level

Month-wise Break-up of Total Sales

Some of the insights based on the £649 millions month-wise break-down :

Stamp Duty Hike Impact

• March had property sale spike of £74 millions compared to £56 millions in Feb
• 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

• Brexit took place on 23rd June 2016.
• Year on Year decline has been 22.6% 
• So Brexit and Stamp Duty changes have had significant negative impact on Hampshire Property Market in 2016

Total No Of Properties Sold By Property Type

 The total property sales of £649 millions in 2016 was spread over 2,173 properties.

• Detached 667 (30.69%)
• Semi-Detached 559 (25.72%)
• Terraced 507 (23.33%)
• Flat/Maisonette 393 (18.09%)
• Other 47 (2.16%)

Average & Median Sales Price

The average sales price in Fareham was £299 K and for the different property types it was:

• Detached £437 K
• Semi-Detached £269 K
• Terraced £234 K
• Flat/Maisonette £152 K
• Other £630 K

Similarly median sales price in Fareham was £260 K and for the different property types it was:

• Detached £388 K
• Semi-Detached £263 K
• Terraced £225 K
• Flat/Maisonette £148 K
• Other £300 K

New Vs Not New Property Statistics

By Sales Values the split is as follows:

• New Property contributed £41 millions (6.26%)
• Not New Property contributed £608 millions (93.74%)

By Total Number the split is as follows:

• New properties sold were 181 (8.33%)
• Not new property sold were 1,992 (91.67%)

All Hampshire Posts