W12 Property Market - Third Quarter 2009

Strong bounce back for local home prices

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The latest figures from the Land Registry show the property market in Shepherd's Bush saw a strong recovery in the third quarter of 2009.

The average price of a property in W12 was up by 34.6% compared to the previous quarter to £420,143.

The strength of the rise is probably overstated because there were only 42 properties sold in the second quarter. Nearly 100 were sold in the latest period. The increase in sales of terraced houses was particularly strong.

London's annual house price change to the end of September according to the Land Registry is -3.2 per cent, which is the sixth month in a row in which London's rate of fall has eased. The average value of a property in London is now £314,954.

Right Move's House Price index, which is based on offered prices rather than sales prices, is showing that in October in London prices were back to an all-time high. The majority of buyers are expecting more rises and only 1 in 10 expecting falls

The figures for England and Wales as a whole in September show an annual movement of -5.6 per cent. This brings the average house price in England and Wales to £158,377. This is the fifth month in a row where the annual rate of decline has eased.

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

July - September 2009

Area Semi-Det Sales Terraced Sales Flat/Mais Sales Total Averages Total Sales
W12 0 498700 3 381933 15 301995 10 365894 28
W12 7 0 0 0 0 283210 10 283210 10
W12 8 0 0 575000 3 347404 11 396175 14
W12 9 884500 4 672216 18 276011 22 493412 44
Total 719157 7 543163 36 297089 53 420143 96
Change over quarter 151.6% 75.0% 17.0% 200.0% 20.9% 103.8% 34.6% 128.6%

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