After the shock results of the general election on 8th June, leaving the UK with a hung Parliament, we decided to take a look at the property market of the four main party leader’s constituencies for this edition of Delving into Data.
- Theresa May – SL6 (Maidenhead)
- Jeremy Corbyn – N19 (Islington North)
- Tim Farron – LA9 (Westmorland and Lonsdale – Kendal)
- Nicola Sturgeon – G41 (Glasgow Southside)
- Mrs May has a constituency with a higher than average property churn rate, in other words higher than average Sale % and Rent %. The average for current Sale Base (number of houses listed for sale) is at 2.67% and Rental Base is 1.09%.
- Islington North can be excused from having such a high rent % as it’s part of central London, where of course rent % is usually a lot higher. The property in this constituency is the least in demand out of these four, based on time on market, but this again is a trend for London.
- Westmorland and Lonsdale, Tim Farron’s constituency in Kendal, has the lowest rental prices of the four, although the second lowest for average asking prices, at £235,041.
- Nicola Sturgeon is presiding over a very healthy constituency, if the measure of health is a good property market. The average asking prices (both Sale and Rent) are below national averages (the average being £383,513), and the property here is very much in demand when looking at time on market.
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