Shepherd's Bush Property Prices Bounce Back from Slump

But number of transactions disappointing for estate agents

Related Links

Estate agents' signs

Northfields Estates

Faron Sutaria

Jorgensen Turner

More Local Estate Agents

Property in Shepherd's Bush

Latest Property Sales in Shepherd's Bush

Fourth Quarter Property Report for Shepherd's Bush

Participate

Discuss this story on the Forum

Register for the Shepherd's Bush Newsletter to get regular property updates

Property prices in Shepherd's Bush have made made a sharp recovery far this year after a serious slump in the second half of 2011.

According to the latest data from the Land Registry, the average price of a home sold in W12 during the first quarter of 2012 was £457,503 - up by 9.8% on the previous three months.

This remains below the peak of the market seen last year when the average reached of half a million pounds but the level is up 8.1% on the same period last year.

In the longer term, the average is 21.4% above what it was three years ago and 80.8% up over the last decade.

The recovery included all types of property, though terraced house prices appear to be benefiting most, with a jump of 11.6%, and across most areas of Shepherd's Bush, with the W12 postcode - the area around Askew Road - showing the average house price leaping from £639,351 to £840,153.

It wasn't all good news however. The number of transactions in the local market will be of concern to estate agents, with just 77 properties changing hands so far this year.

This represents a fall of around a quarter from the same period in 2011, though the period does include the chilliest winter months of January and February, when sales are traditionally slow. Agents have no doubt been hoping spring will bring back the buyers.

Looking at the bigger picture, March data from Land Registry's flagship House Price Index shows an annual price decrease of 0.6%, which takes the average property value in England and Wales to £160,372.

London remains the best performing area in the country with prices rising by 0.7% to £343,522 over the same period.

The most up-to-date figures available show that, during January 2012, the number of completed house sales in England and Wales increased by 13% to 42,511 compared to 37,584 in January 2011.

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 2012
Area Terraced Sales Flat/Mais Sales Total Averages Total Sales
W12 0 486065 10 390622 9 440855 19
W12 7 703250 8 285099 10 470944 18
W12 8 0 0 339000 15 339000 15
W12 9 840153 10 325863 15 531579 25
Total 674578 28 333460 49 457503 77
Change over quarter 11.6% -22.2% 5.6% -26.9% 9.8% -25.2%
Change over year 10.2% -6.7% 6.5% -29.0% 8.1% -24.5%
Change over three years - - - - 21.4% -
Change over five years - - - - 16.7% -
Change over ten years - - - - 80.8% -

 

Shepherd's Bush Property Prices - October to December 2011
Area Terraced Sales Flat/Mais Sales Total Averages Total Sales
W12 0 522038 13 284700 5 456111 18
W12 7 682833 6 283884 16 392688 22
W12 8 0 0 290155 19 290155 19
W12 9 639351 17 358796 27 467192 44
Total 604235 36 315912 67 416685 103
Change over quarter 1.9% -16.3% -1.8% -8.2% -9.5% -18.9%
Change over year 8.2% 9.1% 0.7% 31.4% -2.3% 18.4%
Change over three years -2.2% -
Change over five years 21.7% -
Change over ten years 70.3% -

 

Source: Land Registry

May 18, 2012