Story Highlights

• Maidstone had total property sales of £965 millions in 2016
• The total number of properties sold in 2016 was 3120
• The average sales price in Maidstone was £309 K, whereas the median was £268 K
• New Property sales were 10.52% by value, whereas Not New Property contributed 89.48%.
• Stamp duty changes caused monthly spike in March
• Brexit coupled with Stamp Duty changes did not have negative impact, there was growth of 2.17%

Maidstone is one of the districts of Kent.

Total Sales By Property Type

 Maidstone had total property sales of £965 millions which was 10.35% of the total Kent Property Market 2016

The split £965 millions across the different property types are:

• Detached £308 millions (31.96%)
• Semi-Detached £249 millions (25.85%)
• Terraced £218 millions (22.64%)
• Flat/Maisonette £113 millions (11.71%)
• Other £76 millions (7.84%)

Maidstone Property Market at Postcode Level

Month-wise Break-up of Total Sales

 Some of the insights based on the £965 millions month-wise break-down :

Stamp Duty Hike Impact

1. March had property sale spike of £118 millions compared to £67 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 2.17% in 2016
3. Brexit coupled with Stamp Duty Hike did not have negative impact on Maidstone Property Market in 2016

Total No Of Properties Sold By Property Type

 Maidstone had total property sales of 3120.  The split across different property types are:

• Terraced 883 (28.3%)
• Semi-Detached 820 (26.28%)
• Flat/Maisonette 677 (21.7%)
• Detached 646 (20.71%)
• Other 94 (3.01%)

Average & Median Sales Price

The average sales price in Maidstone was £309 K and for different property types it was:

• Detached £477 K
• Semi-Detached £304 K
• Terraced £247 K
• Flat/Maisonette £167 K
• Other it is £805 K

Similarly median sales price in Maidstone was £268 K and for different property types are:

• Detached £434 K
• Semi-Detached £291 K
• Terraced £231 K
• Flat/Maisonette £160 K
• Other it is £355 K

New Vs Not New Property Statistics

By Sales Value the split is as follows:

• New Property contributed £101 millions (10.52%)
• Not New Property contributed £863 millions (89.48%)

By Total Number the split is as follows:

• New properties sold were 364 (11.67%)
• Not new property sold were 2,756 (88.33%)

 All Kent Posts