£750 million worth of homes sold across borough in past 12 months
ALMOST £750 million worth of property was sold in Wokingham borough during the last 12 months.
The latest research by Lomond, one of the UK’s largest estate and letting agency groups, revealed that despite the muted market conditions seen during the last year, home sellers across England and Wales have still transacted on £150 billion worth of property.
While London remained the most valuable region, it accounted for just four of the top 10 most valuable local authorities where the total value of homes sold is concerned.
Wokingham was ranked in 45th place by value of properties sold across the United Kingdom.
Lomond analysed sold price data from the Land Registry looking at transactions to have completed over the most valuable property of house price growth seen, the £31.4 billion worth of property last 12 months across England markets. capital remained the nation’s changing hands in the last and Wales (March 2023 to The research shows that most valuable property market. year, accounting for 21% of the February 2024 – the latest £150 billion worth of property Some £32.3 billion worth of national total. available data). has been sold across England homes were sold across London London also accounted for
It then looked at the and Wales over the last year. in the last year, accounting for the top three most valuable estimated total value of Despite the London market 22% of the national total. local authorities when it homes sold across each area largely under-performing in However, the South East came to the estimated
nd of GNH_Reading_265x160_LK6-CN9-BE1_Jan2024_DEXP the market to reveal where comparison to the rest 20x3 of the 12/01/2024 has been 08:57 hot Page on 1 the heels total value of homes sold, currently ranks as the nation’s nation with respect to the rate of the London market, with but the capital isn’t quite as dominant as you might expect.
Kensington and Chelsea (£2.386 billion), Westminster (£2.319 billion) and Wandsworth (£2.277 billion) ranked as the top three most valuable local authorities in the nation.
Buckinghamshire was the most valuable market outside the capital and fourth most valuable across the nation, with £2.157 billion worth of homes sold over the last year.
Lomond CEO, Ed Phillips, said: “Higher mortgage rates have dampened buyer appetites in recent months, and this has naturally led to a reduction in market activity, as well as a slight reduction in property values due to borrowing restrictions.
“But while it may be tempting to be consumed by the doom and gloom that follows such market corrections, it’s important to note that there has still been an incredibly strong level of market activity over the last 12 months with no less than £150 billion worth of property sold in the last 12 months alone.
“This figure is quite staggering, to say the least, and while London naturally remains the most valuable region of the market, it far from dominates with areas up and down the nation featuring in the top 10.”