Property sales fell furthest in the South during 2015

Property sales fell furthest in the South during 2015

New research from Halifax has highlighted that during the first eight months of 2015, property sales were 8% lower than in the same period in 2014.

All regions saw a fall in sales in 2015, but there was a clear north/south divide with sales falling more in the south. The biggest decline was in Greater London (-14%), whereas the smallest fall was in the North West (-3%). However, there were still marked differences in local markets, with pockets of higher and lower activity in all regions. In Yorkshire & the Humber for example, the sales were down 6%, but whereas in Batley they were down 27%, in Pontefract they were up 20%.

The majority (82%) of towns saw a decrease in sales between 2014 and 2015. This was in stark contrast to 2014 when nearly all towns (97%) recorded a rise in sales. Those areas which saw the biggest declines in activity did not necessarily see a drop off in house price rises, so although Greater London saw a decline in sales of 6%, average house prices increased by £55,095.

Two towns recorded a 20% or more increase in sales between 2014 and 2015, with the biggest rises in Salford in the North West (23%) and Pontefract in West Yorkshire (20%). All ten towns experiencing the biggest increases in sales are outside southern England.


Market Rasen in Lincolnshire saw the biggest fall in sales with a 30% decline between the first eight months of 2014 and the same period in 2015. Seventeen towns saw a fall of 25% or more and seven of the ten towns recording the biggest declines are in London and the South East.

Kensington and Chelsea was the worst performing London borough with a 28% decline followed closely by Hammersmith and Fulham. Thirty London boroughs recorded a fall in sales with two experiencing an increase.

Craig McKinlay, Mortgages Director at Halifax, commented: "Activity in the housing market has generally softened in 2015 with sales in the first eight months of the year down by 8% compared with the same period in 2014. While sales have declined in all regions, there is a clear north versus south pattern with sales falling most in southern regions. An acute shortage of properties for sales has also added to the constraints on activity.

Nonetheless, there remain substantial local variations in housing activity with a small number of towns recording significant increases. These towns are largely in the north and are where prices are relatively low.”

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SecomTech
SecomTech 19 Aug 2016

Firstly, I either lodge with DPS or do not take a deposit...secondly, If a tenant has not received a confirmation their deposit is secured with either a scheme or in an insured account with an agent/landlord,...

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jasonevans
jasonevans 19 Aug 2016

Belvoir has over 15 years of experience in property lettings, buying and renting and is one of the best agencies I know about. I have heard that they revived an award for the hard work. Really amazing...

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jasonevans
jasonevans 19 Aug 2016

Usually these areas are least affected when it comes to unexpected economical collapse.

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TheWaspNestRemover
TheWaspNestRemover 11 Aug 2016

You agree to pay for the treatment needed to get rid of fleas, ants, mice, wasps nests and other pests unless you can prove that these are a result of us not meeting our repairing responsibilities or these...

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madisonwelch80
madisonwelch80 02 Aug 2016

16% is quite a raise. Let's hope this tendency won't continue for long.

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madisonwelch80
madisonwelch80 02 Aug 2016

?66,963 is a serious price drop However buying a property it a serious investment only small percentage of the UK population could afford.

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madisonwelch80
madisonwelch80 02 Aug 2016

Wow, it kind of surprised me. I mean counting on mom and dad's bank even after retirement is too much. That's the moment in life when one should have ensured themselves. I am shocked.

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AbbieP.
AbbieP. 22 Jul 2016

"While house prices in the most expensive eleven boroughs have declined values in the cheapest eleven boroughs continue to rise" - not a nice way to even out the price range. London is overrated as it

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AbbieP.
AbbieP. 21 Jul 2016

And try to profit from your decisions, I may add

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CommercialTrust
CommercialTrust 19 Jul 2016

Retirement investment has always been one of the biggest draws of buy to let. And the buy-to-let demographic is, on balance, older. (Over a third of our applicants are over 50 at the time of application.) It...

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Forrest Wheatey
Forrest Wheatey 11 Jul 2016

I find the time perfect for ever home-owner wannabe. Prices should slowly, but steadily drop, at least for the inner buyer. Making it harder for outsiders to buy properties (the whole Brexit thing means...

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property guru
property guru 11 Jul 2016

Why should Ajay even have to be looking for it. It should be public knowledge. Why is not just publish each years and to were it is and be AUDITED. Accountability.

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