|Shepherd's Bush Property Pauses for Breath|
Recent sales prices lower than end of last year
The local property market has started the year off quietly with relatively few sales reported in January after a strong fourth quarter in 2009.
The average sale price of a W12 property in the first month of the year was under £300,000, but with relatively few sales reported, it would be premature to see this as signalling a downturn in the market.
In the fourth quarter of 2009, the average price of a local property was up by 1.9% compared to the previous quarter to £428,093. Compared to the same period last year prices are up by 5.5%.
The Land Registry's House Price Index for London shows the capital was the strongest area of the country in January, with the average price up by 10.5% compared to January 2009 and 3.9% compared to the previous month. The average London home now costs £336,212.
The January data for the whole country shows an annual house price movement of 5.2%, which is the second month in a row where the figure has been positive. While not all regions are recovering at the same rate, it is clear that overall prices are increasing. Monthly house price change is also positive this month at 2.1%. This is the eighth consecutive month that the figure has been above zero.
The average house price in England and Wales now stands at £165,088.
Right Move's House Price index, which is based on offered prices rather than sales prices, shows prices have moved down again during the winter. Their index for December is down by 2.2% during the month but up by 1.7% compared with last year.
The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database.
December 2009 Property Sales in Shepherd's Bush
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Source: Land Registry
April 9, 2010