Turnover Doubles in W12 Property

Sales levels twice the same period last year

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The latest figures from the Land Registry show the property market in Shepherd's Bush continued to rise towards the end of last year.

The average price of a property in W12 was up by 1.9% compared to the previous quarter to £428,093. Compared to the same period last year prices are up by 5.5%.

In December, London experienced an annual house price change of 6.1% according to the Land Registry. This is the third month in a row that prices have increased year on year. Although London’s annual movement has mirrored that of England and Wales for some time, it now appears that London’s growth in general is increasing more rapidly.

The figures for England and Wales as a whole in December show an annual increase of 2.5%. This brings the average house price in England and Wales to £161,783. This is the first positive annual house price change since May 2008.

Right Move's House Price index, which is based on offered prices rather than sales prices, is showing that in January in London prices rose to an average of £407,731. This represents an annual change of 5.5%. Right Move say their figures show 'century low' stock levels for estate agents with the average agent having less than 65 properties on their books.

Miles Shipside, commercial director of Rightmove said, “The decision of post New Year sellers to ask for a higher price could be a shrewd move. In spite of problems brewing for later in the year, there are definitely some of the ingredients for a buoyant spring, and a window of opportunity that sellers may wish to take advantage of.”

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

 

October - December 2009

Area Semi-Det Sales Terraced Sales Flat/Mais Sales Total Averages Total Sales
W12 0 0 0 398050 9 310250 10 351839 19
W12 7 0 0 503937 4 273090 11 334649 15
W12 8 0 0 679497 5 281766 15 381199 20
W12 9 1437000 5 601263 15 303780 31 502375 51
Total 1437000 5 545898 33 294779 67 428093 105
Change over quarter 99.8% -28.6% 0.5% -8.3% -0.8% 26.4% 1.9% 9.4%
Change over year - - -15.7% 83.3% 7.3% 103.0% 5.3% 105.9%

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

February 9, 2010