Million Plus Property Market Thrives in Shepherd's Bush

But overall average price drops from all time high

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The latest sales in the W12 post code area suggest that property prices have fallen back from the all time highs seen in the third quarter of last year.

Only 54 properties have been reported to the Land Registry as changing hands since the end of last September. The average prices was £537,341 well down on the £600,000 level seen in the previous three months.

However, the top end of the market appeared to be thriving with six homes changing hands for over £1,000,000 during the period. The most expensive of these was on Hartswood Road, costing its new owners £1,900,000 followed by a house in Binden Road selling for £1,550,000 and another on Uxbridge Road which sold for £1,500,000.

At the other end of the market meanwhile the statistics show Shepherd's Bush can still offer hope for first timers priced out of other local areas, with three flats selling at under £200,000, and another four for under £250,000.

The Land Registry will be issuing official figures for the fourth quarter early in February which will give a firmer indication of the direction of local property prices.

 

shepherds bush property prices

 

According to the RICS Residential Market Survey, the number of homes sold per chartered surveyor in London reached its highest point since October 2010 in December as the recovery in the capital’s property sector continued.

Over the festive period, the average number of transactions per surveyor in London, reached 16 - over treble that of the lowest point of the downturn back in February 2009 when respondents were selling a mere 6. With more sales now going through, growth in demand for rented accommodation has fallen again as a growing number of renters opt to test the sales market.

Meanwhile, with the amount of homes coming onto the market still nowhere near enough to meet the higher level of demand, prices continue to rise. In London during December, a net balance of 99 percent more chartered surveyors reported growing prices. Significantly, every area of the UK saw prices increase with London and the South East experiencing the biggest jumps.

Peter Bolton King, RICS Global Residential Director, commented: “The housing market is starting to thrive once more. Sales are at their highest level in almost six years and this is being reflected right across the UK. Growing availability of affordable mortgages has released some pent-up demand from a market that, in recent years, has seen many viable buyers unable to enter the market. On the face of it, this seems like good news but unless we see a marked increase in the number of homes coming up for sale we could well be looking at a price rises becoming unsustainable in some areas.”

The October data from Land Registry's House Price Index shows that London remains the best performing property market in England and Wales. The average price of a home in the capital rose by 8.7% over the year to £390,720 although it was slightly down on the previous month.

For the country as a whole prices rose by 3.1% which takes the average property value in England and Wales to £165,515. Repossession volumes decreased by 29 per cent in August 2013 to 1,200 compared to 1,682 in August 2012.

The most up-to-date figures available show that during August 2013 the number of completed house sales in England & Wales increased by 15 per cent to 74,767 compared with 65,014 in August 2012

The number of properties sold in England and Wales for over £1 million in August 2013 increased by 27 per cent to 1,104 from 871 in August 2012

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The latest reported sales are given in the table below:

Property Sales in Shepherd's Bush (October - November 2013)
26/11/2013 5 Vespan Road, W12 9QG
751,000
25/11/2013 81 St. Stephens Avenue, W12 8JA
1,230,000
15/11/2013 136 Becklow Road, W12 9HJ
436,000
15/11/2013 52 Fitzneal Street, W12 0BB
372,500
15/11/2013 16 Gainsborough Court, Lime Grove, W12 8HS
290,000
14/11/2013 21 Stokesley Street, W12 0AG
448,250
14/11/2013 154b Goldhawk Road, W12 8HJ
270,000
08/11/2013 Flat 99, Phipps House, White City Estate, W12 7QF
250,000
08/11/2013 9 Creighton Close, W12 7DG
195,000
07/11/2013 12 Hartswood Road, W12 9NQ
1,900,000
07/11/2013 50 Jeddo Road, W12 9EQ
480,000
07/11/2013 13 Terrick Street, W12 7AE
415,000
07/11/2013 Flat 42, Cornwallis House, India Way, W12 7QT
232,000
06/11/2013 297 Goldhawk Road, W12 8EU
885,000
06/11/2013 Flat 35, Evans House, White City Estate, W12 7NZ
169,000
05/11/2013 19 Gayford Road, W12 9BY
775,000
04/11/2013 33 Lefroy Road, W12 9LF
770,000
01/11/2013 109a Uxbridge Road, W12 8NL
1,500,000
01/11/2013 62a Ormiston Grove, W12 0JS
625,000
01/11/2013 63 Coningham Road, W12 8BS
570,000
01/11/2013 Flat 8, Pennard Mansions, Goldhawk Road, W12 8DL
555,000
01/11/2013 Second Floor Flat, 30 Stanlake Road, W12 7HP
425,000
01/11/2013 109 Henchman Street, W12 0BN
345,000
31/10/2013 60 St. Elmo Road, W12 9DX
1,150,000
31/10/2013 49 Aldbourne Road, W12 0LW
1,000,000
31/10/2013 Flat 5, Ariel Court, Goldhawk Road, W12 9SR
415,000
31/10/2013 7c Keith Grove, W12 9EY
330,000
31/10/2013 Flat 64, Hargraves House, White City Estate, W12 7NF
225,000
31/10/2013 33 Mayfield Road, W12 9LT
175,000
30/10/2013 43 Coningham Road, W12 8BS
361,000
25/10/2013 62 Abdale Road, W12 7EU
775,000
25/10/2013 Basement Flat, 3 Leysfield Road, W12 9JF
440,000
25/10/2013 2 Melina Road, W12 9HZ
370,000
25/10/2013 Flat C, 65a Cathnor Road, W12 9JB
320,175
25/10/2013 Flat 3, 12 Old Forge Mews, W12 9JP
316,000
24/10/2013 11 Glenroy Street, W12 0HF
420,000
23/10/2013 34 Aylmer Road, W12 9LQ
492,000
23/10/2013 Flat B, 6 Coningham Road, W12 8BJ
345,000
18/10/2013 Flat 1, 3 Becklow Road, W12 9ER
369,000
17/10/2013 22 Binden Road, W12 9RJ
1,550,000
11/10/2013 Basement And Ground Floor Flat, 56 Boscombe Road, W12 9HU
677,500
10/10/2013 5 Thorpebank Road, W12 0PG
639,000
09/10/2013 6 Cathnor Road, W12 9JA
490,000
09/10/2013 32 Bloemfontein Road, W12 7BX
270,000
08/10/2013 42 Woodstock Grove, W12 8LG
400,000
04/10/2013 50 Sundew Avenue, W12 0RR
570,000
04/10/2013 Flat 25, Mark Mansions, Westville Road, W12 9PS
421,550
04/10/2013 Flat 1, 56 Godolphin Road, W12 8JF
420,000
04/10/2013 59 Boscombe Road, W12 9HT
245,000
04/10/2013 Flat 99, Fleet Court, Emlyn Gardens, W12 9UF
220,000
03/10/2013 107 Thorpebank Road, W12 0PG
576,500
03/10/2013 65 Sawley Road, W12 0LQ
525,000
02/10/2013 Coningham Road, W12 8BS
370,000
01/10/2013 Flat 1, Ellenborough House, White City Estate, W12 7NA
249,950

 

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Source: Land Registry

 

February 3, 2014