W3 Property Prices Still Close to Peak

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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