Have Chiswick Property Prices Peaked?


Land Registry figures show market fall over last quarter

Latest figures from the Land Registry show there has been a slight fall in the market over the last quarter.

Whilst Chiswick property is still well up on the same time last year with the average home now costing £527,770, March to June 2007 has seen a fall of -1.7% in price. The main reason for this is that fewer properties in the million pound plus bracket sold compared to the first quarter of the year with Bedford Park in particular seeing a fall in activity. However, because the number of sales involved is small, it is difficult to extrapolate a general trend in this section of the market.

Although £1 million plus properties fared poorly, Bedford Park terraced houses continued to rise in value and now cost close to £750,000 on average and flats in that area have now broken the £400,000 barrier.

Rises in interest rates may have had some impact, but if this is the case, it appears to have only been to stop the rise rather than cause a significant fall.

Property Price Changes in W4 to June 30th
-
Flats
Terraced
All
Last 12 months 18.2% 29.6% 20.1%
Last Quarter 6.5% 15.1% -1.7%
Last three years 38.2% 33.1% 39.4%

The numbers quoted are based on Land Registry data from March to June 2007.

The numbers are subject to revision as usually some properties are added late to the Land Registry's database.

W4 Property Prices - March - June 2007

Area Detached Sales Semi-Det Sales Terraced Sales Flat/Mais Sales Overall Total
W4 1
0
0 1084062 8 740141 14 404155 24 624656 46
W4 2
0
0 1198753 5 685048 24 328692 28 555058 57
W4 3
1026666
3 871850 10 665726 13 293650 26 540151 52
W4 4
0
0 1107083 6 0 0 310906 17 518604 23
W4 5
0
0 650234 9 545607 11 372901 50 435698 70
Total 1026666 3 944194 38 668697 62 348058 145 527770 248

 

Roughly speaking the post code sector areas are as follows:

1 - Bedford Park and the north side of the High Road

2 - The south side of the eastern end of the High Rd down to the river at Corney Reach

3 - The Grove Park area and over to Strand on the Green

4 - The west of Chiswick between the A4 and Chiswick High Rd - (a high concentration of flats)

5 - The north west of Chiswick - Acton Green mainly

 

February 13, 2008