|Shepherd's Bush Property Prices Mark Time|
Little movement in terms of values for flats and houses in W12
The average property price in Shepherd's Bush dipped slightly in the third quarter of 2016 down by 2% on the same period last year. The levels now stands at £680,059.
The fall has more to do with a change of the mix in properties sold than a general decline in prices. Both flat prices and terraced house prices have risen over the last twelve months but because a larger proportion of the former are being sold the average has declined.
The Land Registry’s House Price Index is showing that the average price of a home sold in London in August was £488,908 which is up 12.1% over the same month last year. For the UK as a whole the index shows and average price of £218,964 up by 8.4% compared to the previous year.
The short term indications for the market appear to be positive. Mortgage approvals for house purchases rose to a three-month high in September according to the Bank of England, and RICS, the surveyors’ industry group, have reported that buyer inquiries were the highest since February. They say this indicates that market activity is recovering after a quieter period earlier in the year due to uncertainty over the referendum.
The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database.
Source: Land Registry
May 16, 2017