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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