Story Highlights
- North East England had total property sales of £7 billions.
- The total number of properties sold in 2016 was 39,847
- The total sales at county level was maximum for Tyne And Wear at £2.94 Billions
- The average price in North East England was £168 K, while median price was £125 K
- The average sales price at county level was maximum for Darlington at £204 K
- The sales value contributed by New Property was 11.16%, for Not New 88.84%
- Stamp duty hike caused monthly spike in March
- Brexit coupled with Stamp Duty Hike has caused stagnation of North East England property market 2016 over 2015
North East England is one of the 9 principal areas of England. It consist of the counties Northumberland, Tyne and Wear, County Durham, Darlington, Hartlepool, Stockton-on-Tees, Redcar and Cleveland, Middlesbrough.
Total Sales By County
The total sales of £7 Billions in 2016 was split across its counties as above.
Year on Year Comparison : Compared to North East England Property Market 2015 in 2016
Total Value of Sales By Property Types
The split of £7 Billions across the different property types was:
- Detached at £1.9 billions (28.4%)
- Semi-Detached at £1.8 billions (26.95%)
- Terraced at £1.49 billions (22.19%)
- Other at £1.05 billions (15.67%)
- Flat/Maisonette at £454 millions (6.78%)
Year on Year Comparison : Compared to North East England Property Market 2015 in 2016
- Detached, Semi-Detached, Terraced had decline in total sales.
- Flat/Maisonette remained constant.
- Other has shown increase of 16.15%
Month-wise Break-up of Total Sales
Stamp Duty Hike Impact
- March had property sale spike of £783 millions compared to £460 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.
- 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
- Year on Year there has been no growth in 2016 compared to 2015
- Brexit coupled with Stamp Duty seems to have stagnated the property market
Total Number of Sales By Property Types
The total property sales of £7 Billions in 2016 was spread over 39,847 properties.
- Terraced properties at 13,478 (33.82%)
- Detached at 7,615 (19.11%)
- Semi-Detached at 12,701 (31.87%)
- Flat/Maisonette at 4,372 (10.97%)
- Others at 1,681 (4.22%)
Year on Year Comparison : Compared to North East England Property Market 2015 in 2016
- Except for property type Other all property types have shown decline in numbers
Average & Median Sales Price
The average sales price in North East England was £168 K
For the different property types it was
- Detached at £250 K
- Semi-Detached at £142 K
- Terraced at £110 K
- Flat/Maisonette at £104 K
- Other at £624 K
Similarly median sales price in North East England was £125 K
For the different property types it was
- Detached at £218 K
- Semi-Detached at £130 K
- Terraced at £90 K
- Flat/Maisonette at £88 K
- Other at £115 k
Year on Year Comparison : Compared to North East England Property Market 2015 in 2016
- All property types have shown increase in average and median sales except property type Other
- Other has shown sharp decline in average and median sales
Average & Median Sales Price By County
The average sales price in North East England in 2016 at county level is as above.
The median sales price in North East England in 2016 is as above.
Year on Year Comparison : Compared to North East England Property Market 2015 in 2016
New Vs Not New Property Statistics
By Value of Sales
- The sales value contributed by New Property was £747 millions (11.16%)
- where as Not New Property contributed £5.95 billions (88.84%)
By Number of Sales
- New properties sold were 4,162(10.44%)
- where as not new property sold were 35,685 (89.56%).
Year on Year Comparison : Compared to North East England Property Market 2015 in 2016
- New property market share in property market has gone down in 2016 over 2015
All England Posts
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