South sees biggest drop in property transactions

Jessica Nangle

August 21, 2019

home sales

Properties in the South have been seeing the biggest drop in transactions in England and Wales, according to the latest research by national fast sale agent Springbok Properties.

Total transactions for properties in London, the East, South East and South West were down 7.3% year-on-year.

Property transactions in the North East, North West and Yorkshire and the Humber have declined by 3.3%, with transactions in the Midlands and Wales seeing the same decline.

The southern regions also saw the largest drop in total value of sales with a 7% year-on-year decline compared to just 1% in the northern regions, and a 1% increase in the Midlands and Wales.

Despite the drop in transactions, the south saw the highest value in property sold, with £138m worth of property being sold in the past 12 months.

Shepherd Ncube, founder and chief executive of Springbok Properties, said: “We’ve seen some much stronger market performances across the Midlands and the North since the EU referendum where transactions are concerned, and when it comes to the individual value of property, homeowners in London and the South East have suffered far worse at the hands of market uncertainty.

“The South is still miles ahead when it comes to the actual value of property being transacted and only marginally behind on transactional volume when compared to the North, Midlands and Wales as a whole.”

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