Story Highlights

• Rother had total property sales of £672 millions in 2016
• The total number of properties sold in 2016 was  2,233 properties
• The average sales price in Rother was £301 K
• New Property sales were 2.93% by value, where as Not New 97.07%
• Stamp duty hike caused monthly spike in March
• So Brexit and Stamp Duty changes have stagnated Rother property market and it suffered decline of 0.44% over 2015

Rother is one of the districts of East of Sussex

Total Sales By Property Type

Rother had total property sales of £672 millions which was 19.36% of the East of Sussex Property Market 2016

The split across the different property types are:

• Detached £347 (51.69%)
• Semi-Detached £108 millions (16.13%)
• Flat/Maisonette £97 millions (14.42%)
• Terraced £86 millions (12.88%)
• Other £33 millions (4.89%)

Rother Property Market at Postcode level

Month-wise Break-up of Total Sales

Some of the insights based on the £672 millions month-wise break-down :

Stamp Duty Hike Impact

• March had property sale spike of £95 millions compared to £52 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 property sales has shown a decline of 0.44 % compared to 2015
• So Brexit and Stamp Duty changes have stagnated Rother property market and it suffered decline of 0.44%

Total No Of Properties Sold By Property Type

The total property sales of £672 millions in 2016 was spread over 2,233 properties.

• Detached 824 (36.9%)
• Flat/Maisonette 607 (27.18%)
• Semi-Detached 380 (17.02%)
• Terraced 350  (15.67%)
• Others 72 (3.22%)

Average & Median Sales Price

The average sales price in Rother was £301 K and for the different property types it was:

• Detached £421 K
• Semi-Detached £285 K
• Terraced £247 K
• Flat/Maisonette £160 K
• Other it was £456 K

Similarly median sales price in Rother was £263 K and for the different property types was:

• Detached £374 K
• Semi-Detached £263 K
• Terraced £225 K
• Flat/Maisonette £150 K
• Other it is £241 K

New Vs Not New Property Statistics

By Sales Values the split is as follows:

• New Property contributed £20 millions (2.93%)
• Not New Property contributed £652 millions (97.07%)

By Total Number the split is as follows:

• New properties sold were 64(2.87%)
• Not new property sold were 2169 (97.13%)

All East of Sussex Posts