Brisk Trade in Shepherd's Bush Homes

Prices at top end soar and flat sales surge

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The average price of a home in Shepherd's Bush during the first three months of 2011 was £423,078, almost unchanged from the previous quarter, when the average was £426,200.

Prices at the top end of the market however rose sharply with the average semi-detached home soaring from £890,833 between October and December to £1,061,666 - a rise of 19.2%.

The number of houses sold was low, dropping from 36 in the previous quarter to 33. Flat sales on the other hand surged from 51 to 69.

" Demand for all types of property is strong, but the supply of family sized homes is low, " says Paul Jorgenson of estate agent Jorgenson Turner. " With larger homes, there are considerable costs involved in moving home, and at the moment people may be feeling cautious and deciding against a move.

" Flats in W12 are popular because they are still affordable compared with other local areas," says Paul, whose agency has around a dozen available for under £250,000. "They are also buying in an improving area -  Shepherd's Bush is being gentrified with building work going on in every street."

Research published by Jones Lang LaSalle puts the sale price per sq ft in Shepherd's Bush at £539, above Acton and Ealing, but well below levels in other parts of the borough - £622 in Hammersmith and £702 in Fulham.

Area Sale Price per sq ft Rental Price per sq ft Yield
Shepherd's Bush
539
n/a
n/a
Chiswick
599
30.07
5.02
Acton
440
23.40
4.02
Ealing (W5)
503
20.74
4.10
Ealing (W13)
393
22.42
5.48
Hammersmith
622
25.97
4.18
Fulham
702
32.87
4.68
Putney
565
21.70
n/a
Barnes
570
n/a
n/a
Wandsworth
560
31.46
5.62

Source: Jones Lang LaSalle/Financial Times

House prices in London are now the only one in the country that have risen compared with the same period last year. The Land Registry's House Price Index shows that the average price in the capital was £336,828 in March 2011, up by 0.8% compared to the same month last year.

For England and Wales the average price is now £160,996 down by 2.3% from March 2010. Prices in the north east have fallen by 9.3% and in Wales they are down by 7.2%.

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

 

Shepherd's Bush Property Prices - January - March 2011
Area Semi-Det Sales Terraced Sales Flat/
Mais
Sales Total Ave Total Sales
W12 0 0 0 469692 13 317658 6 421681 19
W12 7 0 0 677964 7 231111 9 426609 16
W12 8 0 0 0 0 326270 20 326270 20
W12 9 1061666 3 751718 10 326138 34 463636 47
Total 1061666 3 612297 30 313044 69 423078 102
Change over quarter 19.2% 0.0% 9.6% -9.1% -0.2% 35.3% -0.8% 17.2%
Change over year -3.9% 0.0% 5.3% 42.9% 4.1% 21.1% 4.9% 25.9%
Change over three years -14.7% -25.0% 0.5% 25.0% 6.2% -2.8% 3.4% 3.0%

Shepherd's Bush Property Prices - October - December 2010

Area Semi-Det Sales Terraced Sales Flat/Mais Sales Total Averages Total Sales
W12 0 0 0 427863 11 236250 6 360235 17
W12 7 0 0 511166 3 272000 11 323250 14
W12 8 0 0 642390 5 354059 16 422709 21
W12 9 890833 3 641428 14 328775 18 502013 35
Total 890833 3 558543 33 313576 51 426400 87
Change over quarter -24.0% -40.0% -10.5% -25.0% -0.4% -3.8% -13.0% -14.7%
Change over year -38.0% -40.0% 2.3% 0.0% 6.4% -23.9% -0.4% -17.1%

 

Source: Land Registry

May 20, 2011