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UK Housing Market Update: Market Analysis Q3 2016

Posted by Rhiana Duckett December 14, 2020

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Following on from last week's Q3 UK Housing Market Update Infographic, we now bring you the full breakdown of stats from our latest housing market analysis, broken down by regions. 

Midlands

Against Q2, sales fell an average of 13%, while year on year, sales fell by 29% on average. Prices proved more stable though, rising by 2% both from Q2 and year on year. Against the previous quarter, rentals rose by 10%, with one-bed homes up by 24%. This could be linked to a 13% drop in their average rental price – compared to an average decrease of 2% across the entire market from Q2. Year on year, rentals fell by 20%, as prices rose 3% on average.

North East

Against Q2, sales fell by 7% on average. This was dwarfed by a 25% drop year on year though. Prices were more stable, rising 2% against the previous quarter and down 1% year on year. Rentals rose by an average of 13% against Q2, with prices dropping by 7% on average. One-beds saw a big shift, with 26% more rentals and a 17% drop in price against the previous quarter. Year on year, rentals fell by 24% on average, and prices dropped by 8%.

North West

Sales fell by 5% on average against Q2 and by 23% year on year, as prices dropped by 1% both against the previous quarter and the same period last year. Compared to Q2, rentals were up 21% on average. Smaller properties proved most popular as one- and two-bed rentals rose 34% and 24% respectively. Conversely, five-bed rentals dropped by 15% and six-beds by 52%. Average rental prices were down 10% against Q2 and down 3% year on year.

Northern Ireland

Sales fell 10% on average against Q2, but one-bed homes bucked the trend, with sales up 15%. Semi-detached homes proved most popular, with sales up 386% on Q2 as their price fell by 12%. Year on year, sales dropped by 35% and prices remained fairly static. Against Q2, rental rates were up 43% on average – the biggest jump in the UK – as prices dropped by 1%. Year on year though, rentals were down 34%, despite prices showing no change against Q3 of 2015.

Scotland

On average, sales dropped by 9% against Q2 and by 26% year on year. Prices were more buoyant though, rising 3% on average against Q2 and up 1% year on year. Rentals were up 31% on average against the previous quarter, bolstered by a 13% fall in the average price. Year on year, rentals were down 24% though, despite prices dropping by 11%.

South East

The South East saw the biggest drop in sales both against Q2 and year on year – by 23% and 37% respectively. Prices also fell, by 4% against the previous quarter and by 1% year on year with larger properties seeing the biggest change. Rentals rose by 17% against Q2, but fell 17% year on year. Rental prices rose an average of 4% against Q2, but fell an average of 9% year on year. Only one-beds saw a modest, 2% increase in price against the same period in 2015.

South West

Sales were down both against Q2 and year on year – by 13% and 29% respectively. Prices were among the most stable in the UK though, increasing by 1% against Q2 and up 3% year on year. Against Q2, rentals were up 5% on average, with cottages showing a spike in popularity, up 183%, perhaps thanks to a 29% drop in their rental price. Year on year, rentals dropped by 16% on average as prices rose by 1%.

Wales

Against Q2, sales remained static, but fell by 21% year on year. Larger homes were hardest hit, with sales of those with seven or more bedrooms down 51% against the previous quarter and down 37% compared to Q3 of 2015. Prices were fairly static though, dropping only 1% on average against Q2 and seeing no shift against the previous year. Rentals rose by 12% against Q2 as prices fell by 12%. One-beds proved most popular, up 27% against the previous quarter. Year on year, rentals fell by 28% on average though, as prices dipped by 3%.

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