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.”

Join our mailing list:

Leave a comment



Our Next Event

Buy-to-Let Roadshow July 2017

Buy-to-Let Roadshow July 2017

Newcastle - 18/07/2017

Bolton - 19/07/2017

Derby - 20/07/2017

Reading - 21/07/2017

Register now

Latest Comments

jason hadzikostas
jason hadzikostas 28 Jun 2017

The most important thing is a budget. Students have to manage their spendings in food, house maintenance, books and many other things. According to me, student Studios are the perfect option for them as...

view article
SecomTech
SecomTech 22 Jun 2017

AT Last...This was discussed years ago and there was a move towards landlords registering their bad tenants on a database..(can't remember where) It seems a logical step though our leaders will probably...

view article
Bertrand
Bertrand 02 Jun 2017

How about the Welsh Govt introducing a scheme to protect landlords against "rogue" tenants who are then taken to court for criminal damage to the properties they trash. Pretty unlikely I suspect and politically...

view article
AmberMorris
AmberMorris 25 May 2017

"Please don't pick a novelty tune-playing doorbell. They're not 'fun'. They're stupid." Laughed a lot to this. It's actually true, though.

view article
Oliver Conway
Oliver Conway 18 May 2017

Making a neat inventory is a good idea, but if the seller is not willing to provide it, can the buyer demand it?

view article
Bertrand
Bertrand 17 May 2017

First step to nationalisation of the private rented sector IMHO. Nanny state poking their noses into things yet again. I object, as a decent landlord, sometimes having to deal with some pretty awful tenants,...

view article
Izzy
Izzy 16 May 2017

This is such a great a post. I love the detail you've gone into. It's a very useful article for helping those who are looking at deciding which sector they would like to go into! When I first started investing...

view article
paul burnham
paul burnham 30 Apr 2017

Jeremy Corbyn's pledge that a Labour government would build 500,000 new council houses must electrify the general election campaign. Reliance on markets and the profit motive has brought huge housing-related...

view article
CommercialTrust
CommercialTrust 28 Apr 2017

Sadiq Khan?s announcement of an online database of landlords and letting agents who have been convicted of housing offences, appears on face value to be a variation of the already implemented Database

view article
warren
warren 26 Apr 2017

You're very welcome Mary! Glad you enjoyed them :)

view article
Mary Ward
Mary Ward 26 Apr 2017

Thank you for the wonderful ideas. First impressions can make or break a deal. It's sadly that many homeowners drop the kerb to create an off-street parking space.

view article
Tony Gimple
Tony Gimple 14 Apr 2017

I'm not at all surprised that so many landlords are still confused about what the tax changes really mean and how it will affect them. In particular, the blind rush to incorporation is leaving landlords...

view article

Related stories

More articles from Property

Buy-to-Let Roadshow
July 2017

18th-21st July

4 days
7 specialists
4 locations
Free to attend

Click here to register now