W3 Property Prices Still Close to Peak


Cause for concern for developers as flat sales fall

Acton property prices have sustained levels close to their all-time high according to the latest figures from the Land Registry. The average value of a W3 home sold in the fourth quarter of 2010 was £362,223.

This is up by 22.2% on the same quarter in the previous year but down by 1.1% on the previous three months which saw the highest ever level reached by local prices.

Flat prices did see a rise over the previous quarter but over the year they are only up by 4.3% and the volume of sales appears to be on a downward trend. Sales of apartments are recovering more slowly that the rest of the market which must be a concern to developers who still have a significant number of units to sell.

London as a whole remains by far and away the strongest area in the country in price terms with home values rising by 6.2% in December compared to the same month in 2009. The average London property now costs £342,325. For England and Wales as a whole property prices rose by 1.5% with many areas of the north seeing falling values over the year. The average home price in the U.K. is now £163,814.

The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database.

In a forthcoming edition of the ActonW3.com newsletter there will be a complete listing of recent property sales in the area. To register to receive it .

 

Acton Property Prices - October - December 2010

Area Detached Sales Semi-Det Sales Terrace Sales Flat/
Mais
Sales Total Ave Total Sales
W3 0 0 0 412322 9 468000 3 0 0 426242 12
W3 6 0 0 0 0 495624 8 228957 26 291702 34
W3 7 904999 3 524166 6 469777 9 281165 33 379734 51
W3 8 0 0 0 0 381500 3 235803 14 261514 17
W3 9 0 0 839812 8 0 0 264210 14 473520 22
Total 904999 3 590191 23 467021 23 255535 87 362223 136
Change in Quarter 25.6% 0.0% -13.2% -17.9% -4.3% -4.2% 3.4% -18.7% -1.1% -16.0%
Change in year - - 29.5% 27.8% 21.0% 53.3% 4.3% 6.1% 22.2% 18.3%
Change in three years - - 12.6% -11.5% -1.3% -30.3% -7.4% -32.6% 5.0% -27.7%
Change in five years - - 43.5% -30.3% 33.6% -48.9% 25.7% -29.8% 34.2% -32.7%

Acton Property Prices - July - September 2010

Area Detached Sales Semi-Det Sales Terrace Sales Flat/
Mais
Sales Total Ave Total Sales
W3 6 720333 3 429166 6 514371 7 233275 27 340349 43
W3 7 0 0 806658 6 478740 11 267150 49 351461 66
W3 8 0 0 714375 4 473733 6 231108 18 352137 28
W3 9 0 0 730000 12 0 0 223538 13 466640 25
Total 720333 3 679730 28 487881 24 247240 107 366403 162
Change in Quarter - - 35.6% 3.7% 12.3% -4.0% -1.8% 39.0% 8.0% 25.6%
Change in year - - 43.2% 180.0% 14.9% 26.3% -5.4% 81.4% 14.2% 84.1%
Change in three years - - 26.2% -34.9% -3.5% -51.0% -8.2% -26.7% -0.1% -31.9%
Change in five years - - 55.6% -31.7% 46.1% -45.5% 20.8% 23.0% 25.0% -5.8%
Change in ten years - - 120.9% -20.0% 114.4% -33.3% 83.5% 5.9% 93.5% -5.8%

 

February 8, 2011

 

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