Shepherd's Bush Property Prices Start to Slip

Latest home sales in W12 show prices drop but healthy demand

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The average price of residential properties sold in October and November 2010 in Shepherd's Bush was £461,045.

This is below the average price in the third quarter of 2010, from July to September, which was £490,338 - an all time high for W12.

That very high average was partly due to the sale of just one house - a property in Ashchurch Church Villas which changed hands for just over £2 million.

In the following two months, just one local property broke the million pound barrier - a house in neighbouring Ashchurch Terrace which sold for £1,150,000.

Two other houses, in Ormiston Grove and Warbeck Road, achieved prices of £990,000 and £985,000.

At the other end of the property scale, the figures show that Shepherd's Bush can still offer bargain buys for first timers, with four flats being sold for under £200,000.

A spokesman for local agent Amber and Co says: " We have noticed prices dropping by up to 2% which has brought a good response from buyers - there is a strong demand both from cash buyers looking at the top end of the market and first timers trying to get onto the ladder.

"Considering Shepherd's Bush is so accessible, just six stops from Oxford Street, property in the area is still very affordable."

According to the Land Registry London property prices are up by 6.8% in November compared to last year. This is the slowest annual rise in 2010 but remains the highest level in the country.

This brings the average property price to £341,009, in comparison to the figure for England and Wales, which is £164,773.

For the country as a whole November's data shows a fall of 0.6%. This is the third consecutive month in which prices have fallen. The annual house price growth rate has continued to decline for the sixth month in a row, with an increase of 2.2%. This is the smallest growth seen in 12 months.

Nationwide's House Price index for December which is based on offer prices rather than actual sales like the Land Registry did show an increase.

Martin Gahbauer, Nationwide's Chief Economist, said, "When house prices are trending down only modestly rather than decisively – as has been the case in recent months – it is not unusual to a see a mixed pattern of monthly declines and occasional increases."

He added, "London and the South East saw particularly large price gains during this period (2010), as the scarcity of property was most acute in these regions. London will also have benefited from the strong recovery in the financial sector, which is an important driver of buyer confidence and housing demand in the capital."

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The latest reported sales are given in the table below.

October 2010 Property Sales in Shepherd's Bush

Address Price (£) Date
79, Vespan Road, W12 9QG
585,000
29/10/2010
92, Henchman Street, W12 0BN
335,000
29/10/2010
82, Abdale Road, W12 7EU
665,000
29/10/2010
22, Foxglove Street, W12 0QD
380,000
29/10/2010
Hayter House, Flat 4, Sundew Avenue, W12 0RW
170,000
29/10/2010
52, Cathnor Road, W12 9JA
305,000
29/10/2010
9, Warbeck Road, W12 8NS
985,000
29/10/2010
11, Warbeck Road, W12 8NS
1,022,500
29/10/2010
6, Davisville Road, W12 9SJ
635,000
27/10/2010
12, Ashchurch Terrace, W12 9SL
1,150,000
27/10/2010
84, First And Second Floor Flat, Devonport Road, W12 8NU
407,500
25/10/2010
66c, Frithville Gardens, W12 7JN
440,000
22/10/2010
Banstead Court, 60, Flat 116, Westway, W12 0QJ
105,000
20/10/2010
117, Wulfstan Street, W12 0AB
350,000
18/10/2010
58, Oaklands Grove, W12 0JB
305,000
15/10/2010
108, Second Floor Flat, Devonport Road, W12 8NU
379,950
15/10/2010
32, Thornfield Road, W12 8JQ
602,000
15/10/2010
77, Upper Maisonette, Hartswood Road, W12 9NG
370,000
14/10/2010
116, Emlyn Road, W12 9TA
415,000
14/10/2010
34, Ormiston Grove, W12 0JT
990,000
08/10/2010
18, First Floor Flat, Keith Grove, W12 9EZ
320,000
08/10/2010
13, Flat C, Hetley Road, W12 8BA
529,500
08/10/2010
26b, Lime Grove, W12 8EA
322,500
08/10/2010
Durban House, Flat 27, White City Estate, W12 7PU
156,000
07/10/2010
56, Flat 2, Godolphin Road, W12 8JF
240,000
06/10/2010
23, Normandy Place, W12 8AX
280,000
04/10/2010
117, St Elmo Road, W12 9DY
635,000
04/10/2010
23, Basement Flat, Tadmor Street, W12 8AH
318,000
01/10/2010
25c, Warbeck Road, W12 8NS
197,000
01/10/2010
16, Woodstock Grove, W12 8LE
530,000
01/10/2010
130, Becklow Road, W12 9HJ
615,000
01/10/2010

 

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Source: Land Registry

April 5, 2011