|W12 Property Market - Third Quarter 2009|
Strong bounce back for local home prices
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
April - June 2009
Source: Land Registry
25 August, 2009