Story Highlights

• Merton had total Property Sales of £1.74 billions in 2016
• The total number of properties sold in year 2016 was 2859
• The Average property price was £609 K in while median was £443 K
• Not New Property Contributed 96.23% and New Property 3.77% by sales value
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp Duty contribute to the 9.4% decline in total sales value

Merton is one of the Boroughs of South London. It had total Property Sales of £1.74 billions which was 12.22% of the South London Property Market 2016

Total Sales By Property Type

The split of £1.74 billions across the different property types are:

• Terraced £687 millions (39.44%)
• Flat/Maisonette £469 millions (26.9%)
• Semi-Detached £241 millions (13.86%)
• Detached £200 millions (11.46%)
• Other £145 millions (8.33%)

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

• All the property types have shown  in sales except others.
• Others has shown growth of  2.84% in total sales value

Merton 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 £330 millions  compared to £141 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 significant dip in property sales in the immediate aftermath of Brexit 
3. Year on Year the property market for Merton has shown a decline of 9.4% over 2015

Total No Of Properties Sold By Property Type

In Merton the total number of properties sold in year 2016 was 2859

The breakdown by different property types are:

• Terraced  1170 (40.92%)
• Semi-Detached 262 (9.16%)
• Other 102 (3.57%)
• Flat/Maisonette 1223 (42.78%)
• Detached 102 (3.57%)

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

• Total number of property sales in Merton has declined by 11.89%
• All property types have shown decline in number of properties sold except property type Other
• Other has shown significant increase of 24.4%

Average & Median Sales Price

The average sales price in Merton was £609 K. For the different property types it was:

• Detached £1.96 millions
• Semi-Detached £921 K
• Terraced £587 K
• Flat/Maisonette £383 K
• Other it is £1.4 millions.

Similarly the median sales price in Merton was £443 K. For the different property types it was:

• Detached £1.73 millions
• Semi-Detached £730 K
• Terraced £500 K
• Flat/Maisonette £350 K
• Other it is £475 K

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

•  Fpr Flat/Maisonette, Semi-Detached, Terraced the average and median sales price have gone up
• Others have shown sharp decline in average and median sales price

New Vs Not New Property Statistics

By Value Of Sales

• Not New Property contributed £1.7 billions (96.23%)
• New Property £66 millions (3.77%)

By Number Of Sales

• The number of Not New Property sold was 2691 (94.12%)
• The number of New Properties sold was 168 (5.88%)

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

• New property market share in property market has not shown noticeable difference in 2016 over 2015

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