The British property market has had an eventful year. From stamp duty changes to a new era of independence, every political decision has some kind of effect on a country’s property market.
With the calm slowly returning after the Brexit storm, it’s time to look at some numbers and see how the country’s property prices have actually behaved during a very eventful year.
The Land Registry has recently published a new tool giving their visitors the possibility to search for specific terms when it comes to Britain’s property market.
The five graphs that follow all feature the same benchmark data. What we were looking at is the behaviour of house prices in the UK between September 2015 and September 2016.
With this, we include every change in the market from the first announcement of the stamp duty changes to the new tax becoming reality, all Brexit fears and uncertainties after the results.
After average house prices have made it past the £200,000 mark in 2015, the growth kept on to continue over the last 12 months.
Britain’s house price index, similar to average house prices, experienced a slow increase between September 2015 and September 2016.
When it comes to a monthly change in house prices, British property has experienced some ups and downs over recent times. Some of those changes, like a dip around Christmas and New Year’s go in hand with market expectations whilst other, the drop in February and July, show a reaction to political and economical events.
The annual change in house price shows, after a strong rise throughout most of the year, a drop from June. This can be attributed to the decision during the EU referendum and should recover soon again, as the graph misses information from the last two months.
The total sales volume across the UK has had one significant peak during the last 12 months. This peak in March once again proofs how influential the change in stamp duty tax law has actually been.
