Shepherd's Bush Property Sales - January - February 2012
Hartswood Road sale smashes W12 all-time record
The Shepherd's Bush property market appears to have made a sound start to 2012 with the average selling price so far this year at £546,937.
This is a huge jump from the average in December, which was just £409,218. However, a closer look at the figures reveals that this boost is largely the result of just one single sale.
In February, a house in Hartswood Road achieved the highest ever price for a residential property in W12 - just under the three million mark at £2,950,000.
Interestingly, this house, 27 Hartswood Road has already featured in the all time top twenty property sales in Shepherd's Bush when it was sold in 2009 for £2,225,000.
With four properties in the top twenty, Hartswood Road has become the most expensive street in Shepherd's Bush, along with Aschurch Park Villas and Ashchurch Terrace.
With only 45 properties changing hands so far in 2012, it is too early to say whether this boost signals a sustainable recovery from the mini-slump experienced by the local market at the end of last year.
The region in England and Wales which experienced the highest increase in its average property value over the last 12 months is London with a movement of 2.9%.
London also experienced the greatest monthly rise with a movement of 2.5%. The North East experienced the greatest annual price fall with a decrease of 4.5%.
The January data from Land Registry's flagship House Price Index shows an annual price decrease of 1.0% which takes the average property value in England and Wales to £161,545. The monthly change from December to January is 1.1%.
The most up-to-date figures available show that, during November 2011, the number of completed house sales in England and Wales increased by 3% to 57,967 compared to 56,312 in November 2010. The number of properties sold in England and Wales for over £1 million in November 2011 decreased by 4% to 524 from 548 in November 2010.
The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database.
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The latest reported sales are given in the table below.
January/February 2012 Property Sales in Shepherd's Bush
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Source: Land Registry
July 10, 2012