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 last 12 months across England and Wales (March 2023 to February 2024 – the latest available data).
It then looked at the estimated total value of homes sold across each area of the market to reveal where currently ranks as the nation’s most valuable property markets.
The research shows that £150 billion worth of property has been sold across England and Wales over the last year.
Despite the London market largely under-performing in comparison to the rest of the nation with respect to the rate of house price growth seen, the capital remained the nation’s most valuable property market.
Some £32.3 billion worth of homes were sold across London in the last year, accounting for 22% of the national total.
However, the South East has been hot on the heels of the London market, with £31.4 billion worth of property changing hands in the last year, accounting for 21% of the national total.
London also accounted for the top three most valuable local authorities when it came to the estimated total value of homes sold, 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.”
