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 April 2017

Buy-to-Let Roadshow April 2017

Crewe - 18/04/2017

Northampton - 19/04/2017

Essex - 20/04/2017

Brighton - 21/04/2017

Register now

Latest Comments

MBM Homelets
MBM Homelets 23 Mar 2017

Although this is a very positive step, there is little or no guarantee of the standard of workmanship employed by the tenants. We have had experience of a professionally decorated property being ' painted'...

view article
ajay
ajay 21 Mar 2017

How is the "robust evidence" looking now?

view article
NathanG
NathanG 20 Mar 2017

I've been watching the series so far and am completely baffled by the cases that were presented. Though, I don't think that we can protect ourselves from every scam possible - it will just make the scammers...

view article
Landlady14
Landlady14 01 Mar 2017

You would think so Niraj Shah! My experience only proves that there are varying qualitiers of professional in all aspects of property letting. None of the ones I have dealt with, from letting agents to...

view article
Mark
Mark 01 Mar 2017

Thanks for this article. Hopefully one day everybody's lifestyle will be eco-sustainable.

view article
Ben Taylor
Ben Taylor 28 Feb 2017

I was convinced that London was the most expensive!

view article
Alan Read
Alan Read 28 Feb 2017

Australia are leading the way in this I think. The trouble with Britain is we don't get enough sun to make use of solar power.

view article
James Powell
James Powell 27 Feb 2017

This is a very good news.

view article
DanHumphreys
DanHumphreys 27 Feb 2017

It sounds like a good idea. Anything to help the younger generation get a foothold.

view article
Matt
Matt 20 Feb 2017

Is this fake news?

view article
Matthew Hollywood
Matthew Hollywood 07 Feb 2017

Matthew Hollywood - Director Mishon Mackay Land & New Homes - Brighton The shortage of New Homes is in part effected by the lack of land sales. Land sales are held back because there is a disparity between...

view article
CommercialTrust
CommercialTrust 30 Jan 2017

Hi Graham, Would be interesting to see the above figure calculated against an investment via a Lt Company /SPV structure and if the investor found themselves pushed in to the higher tax bracket. Mortgage...

view article

Related stories

More articles from Property

Buy-to-Let Roadshow
April 2017

18th-21st April

4 days
7 specialists
4 locations
Free to attend

Click here to register now