Insights banner (1)

TwentyCi Blog

UK Housing Market Update: Market Analysis Q2 2016

Posted by Rhiana Duckett December 14, 2020

house-for-sale-5-1584436-639x482.jpg

Already at the midpoint of the year, our analysts have been looking back at the state of the housing market throughout Q2, and the changes throughout this quarter.

Events worth noting during this period were the Stamp Duty Rise in April and the full implications of Brexit on the UK property market will emerge over the coming months. TwentyCi will be monitoring this closely and will be bringing you our analysis at the end of Q3. 

Midlands

Sales rose an average of 39 per cent against Q1 and 10 per cent year on year. Semi-detached and terraced homes performed particularly well, with sales up 123 per cent and 91 per cent respectively against Q1. Average prices rose 2 per cent on Q1 and 4 per cent year on year. The number of rentals fell 3 per cent against Q1 but were up 3 per cent on Q2 of 2015. The average selling price was £219,878.

North East

Against Q1, sales were up 35 per cent as prices rose by just 1 per cent. Year on year sales saw a more modest increase of 6 per cent with prices also up 1 per cent. Semi-detached houses proved most popular, with sales up 118 per cent on Q1. Rentals saw an increase of 2 per cent against Q1 with rental prices dropping 4 per cent. The average selling price was £175,615.

North West

Q2 sales were up 33 per cent on Q1, with prices increasing by 2 per cent. Sales increased by 10 per cent and prices by 3 per cent year on year. Semi-detached sales again led the pack, increasing by 104 per cent on Q1 while rentals of these homes rose 65 per cent. The average selling price was £187,108.

Northern Ireland

Sales rose an average of 31 per cent against Q1, though prices showed no change on average. Year on year, sales were up 7 per cent and prices up 2 per cent on average. The number of rentals fell by 11 per cent against Q1 and by 27 per cent year on year. The average selling price was the lowest in the UK, at £144,478.

Scotland

Sales in Q2 were up 43 per cent on the previous quarter and 14 per cent year on year – the biggest rise in the UK. Prices remained flatter though, increasing by 1 per cent on Q1 and falling 1 per cent on Q2 of 2015. Renting was also on the rise, with a 6 per cent increase against Q1. This despite a 14 per cent drop year on year. The average selling price was £161,185.

South East

Sales rose across the board in Q2, going up 33 per cent on Q1 and 5 per cent year on year. Again, semi-detached homes were most popular with sales up 117 per cent on Q1. The rental market also remained buoyant, as the number of houses rented rose 5 per cent and rental prices increased by 4 per cent against Q1. The average selling price was the highest in the UK, at £417,769.

South West

Property sales rose across all house sizes in Q2, averaging a 36 per cent increase on Q1 and up 6 per cent year on year. Rentals fell by 10 per cent against the previous quarter though, despite prices only going up by 1 per cent. Year on year, rental numbers were up 6 per cent and prices up 3 per cent. The average selling price was £270,527.

Wales

Q2 sales were up 25 per cent on Q1, as prices fell by 2 per cent. Year on year, sales were up 8 per cent and prices up 4 per cent. While rentals of one and two-bed homes rose by 12 per cent and 5 per cent respectively against Q1, rentals of other house sizes fell. The average selling price was £182,504.

For more information about our services, please call 01908 829300 or email enquiries@twentyci.co.uk