W12 Property Market - Second Quarter 2009

Local property market remains in the doldrums

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The latest figures from the Land Registry show the property market in Shepherd's Bush remains quiet in the second quarter of this year.

The average price of a property in W12 has fallen by 10% compared to the previous quarter to £312,035.

Only 42 properties were sold between April and June 2009, compared to over 100 in the same period last year.

Earlier this year, local agents reported an increase in the numbers of people looking to buy and an increase in the number of offers being made on both houses and flats. However, as the Land Registry figures show transactions which have already completed, they are likely to lag behind current market activity.

The figures for England and Wales as a whole show a modest improvement in the monthly change in house prices. The June increase of 0.1 per cent is the first time the monthly change has been positive since January 2008. The annual drop of 14 per cent took the average house price to £153,046.

London experienced the greatest monthly rise with a movement of 2 per cent, making it the region with the greatest monthly change and an average property value of £301,859.

All regions in England and Wales experienced a decrease in their average property values over the last 12 months.

The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database.

April - June 2009

Area Semi-Det Sales Terraced Sales Flat/Mais Sales Total Averages Total Sales
W12 0 285875 4 486000 5 0 0 397056 9
W12 7 0 0 0 0 232944 9 232944 9
W12 8 0 0 0 0 239562 8 239562 8
W12 9 0 0 448857 7 264111 9 344937 16
Total 285875 4 464333 12 245769 26 312035 42
Change over quarter -47.7% -42.9% 27.2% 71.4% -12.3% 18.2% -10.5% 16.7%

 

Source: Land Registry

25 August, 2009