Wokingham Property Market in 2016 Declines By 17.6% Due to Stamp Duty Hike and Brexit

24. April 2017 10:57 / VInsights Team / South East England / Comments (0)

Story Highlights

  • Wokingham had total property sales of £1.25 billions in 2016
  • The total number of properties sold in 2016 was 2,676 properties
  • The average sales price in Wokingham was £465 K, whereas median was £414 K
  • New Property sales were 14.67% by value, where as Not New Property contributed 85.33%
  • Stamp duty changes caused monthly spike in March
  • Brexit coupled with Stamp Duty Hike has caused significant decline of 17.6% in 2016 over 2015

 

Wokingham is one of the districts of Berkshire.

Total Sales By Property Type
Wokingham - Total Sales By Property Type

 

Wokingham had total property sales of £1.25 billions, which was 18.98% of Berkshire Property Market 2016

The split across the different property types in Bracknell Forest are:

  • Detached £619 millions (49.72%) 
  • Semi-Detached £275 millions (22.1%)
  • Terraced £201 millions (16.13%)
  • Flat/Maisonette £90 millions (7.24%)
  • Other £60 millions (4.81%)

 

Wokingham Property Market at Postcode level 

Postcode Coverage Area School Local Authority Area
RG2 Madejski Stadium,Whitley Details Reading, Wokingham
RG4 Caversham,Sonning,Sonning Common,Kidmore End,Sonni ng Eye,Dunsden Green,Mapledurham Details Reading,South Oxfordshire, Wokingham
RG5 Woodley Details Wokingham
RG6 Earley Details Wokingham, Reading
RG7 Aldermaston,Bradfield,Burghfield Common,Riseley,Si lchester,Mortimer,Swallowfield,Theale,Woolhampton Details West Berkshire,Basingstoke and Deane, Wokingham
RG10 Charvil,Hurst,Ruscombe,Twyford,Wargrave,Waltham St Lawrence Details Wokingham,Windsor and Maidenhead
RG40 Wokingham(east and town centre),Finchampstead,Bark ham(south), Wick Hill Details Wokingham, Bracknell Forest
RG41 Wokingham(west),Winnersh,Woosehill,Barkham(north), Sindlesham,Emmbrook, Eastheath Details Wokingham

 

Month-wise Break-up of Total Sales
Wokingham - Month-wise Break-up of Total Sales

Stamp Duty Hike Impact

  1. March had property sale spike of £153 millions compared to £100 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 has been dip in property sales in the immediate after-math of Brexit 
  3. Year on Year property market in Wokingham has shown significant decline of 17.6%

 

Total No Of Properties Sold By Property Type
Wokingham - Total No Of Properties Sold By Property Type

Wokingham had total property sales of 2,676.  The split across the different property types are:

  • Detached 1010 (37.74%)
  • Semi-Detached 670 (25.04%)
  • Terraced 576 (21.52%)
  • Flat/Maisonette 357 (13.34%)
  • Other 63 (2.35%)

Average & Median Sales Price
Wokingham - Average & Median Sales Price

The average sales price in Wokingham was £465 K and for the different property types it was:

  • Detached £613 K
  • Semi-Detached £411 K
  • Terraced £349 K
  • Flat/Maisonette £253 K
  • Other it is £951 K

Similarly median sales price in Wokingham was £414 K and for different property types are:

  • Detached £555 K
  • Semi-Detached £400 K
  • Terraced £339 K
  • Flat/Maisonette £245 K
  • Other it is £533 k

New Vs Not New Property Statistics
Wokingham - New Vs Not New Property Statistics

By Sales Values the split is as follows:

  • New Property contributed £183 millions (14.67%)
  • Not New Property contributed £1.06 billions (85.33%)

By Total Number the split is as follows:

  • New properties sold were 384 (14.35%)
  • Not new property sold were 2,292 (85.65%)

 

All Berkshire Posts

 

 

Reference

RG Postcode Area As Per Wikipedia

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