New Record High for Shepherd's Bush Property Prices

Average zooms above half million, and houses up by over 180%

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The average price of properties sold in Shepherd's Bush has hit a new record high, zooming above the half million mark to reach £522,535. This was up almost a quarter - 24.8% to be exact - over the previous three months when the average was only £418,773.

While terraced houses showed a relatively modest price hike of 8.7% to go from an average of £648,160 to £704,537, and flats rose by a small 3.5% from £317,134 to £328,211, semi-detached houses were a completely different story.

In fact, the figures showed a truly astonishing jump, with the average value of semi-detached homes almost tripling from £505,500 between April and June to £1.423,750 between July and September - a rise of 181.7%!

With very few semi-detached homes actually changing hands - four in the this quarter, and five in the last, it is hard to tell if this is a blip or a long term trend.

However, homes selling for above £1 million are becoming commonplace in Shepherd's Bush, with a total of 15 currently up for sale, including an extraordinary three bedroom penthouse created in the former BBC Studios in Wodstock Grove, which is for sale at £2,600,000.

There is also good news for agents in the volume of sales. In contrast with neighbouring areas, where the number of properties changing hands has dropped, W12;s figures show a healthy rise from 120 to 131.

Looking at the wider picture, London was the region in England and Wales which experienced the greatest increase in its average property value over the last 12 months with a movement of 5.5 per cent.

The September data from Land Registry's flagship House Price Index shows an annual price increase nationally of 1.1 per cent which takes the average property value in England and Wales to £162,561.

The most up-to-date figures available show that during July 2012, the number of completed house sales in England and Wales decreased by 9 per cent to 56,509 compared with 62,303 in July 2011.

The number of properties sold in England and Wales for over £1 million in July 2012 increased by 13 per cent to 817 from 725 in July 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 - July - September 2012
Area Semi-Det Sales Terraced Sales Flat/Mais Sales Total Averages Total Sales
W12 0 0 0 479844 28 279715 7 439818 35
W12 7 0 0 859278 7 323535 14 502116 21
W12 8 0 0 912187 8 379481 15 564770 23
W12 9 1423750 4 977384 13 317808 35 567774 52
Total 1423750 4 704537 56 328211 71 522535 131
Change over quarter 181.7% -20.0% 8.7% 64.7% 3.5% -12.3% 24.8% 9.2%
Change over year 65.4% -63.6% 18.8% 30.2% 2.0% -2.7% 13.5% 3.1%
Change over three years 98.0% -42.9% 29.7% 55.6% 10.5% 34.0% 24.4% 36.5%
Change over five years 19.0% -
Change over ten years 67.3% -

 

Shepherd's Bush Property Prices - April - June 2012
Area Semi-Det Sales Terraced Sales Flat/Mais Sales Total Averages Total Sales
W12 0 505500 5 627346 13 349500 5 540456 23
W12 7 0 0 367750 4 295562 8 319625 12
W12 8 0 0 694000 4 302657 35 342795 39
W12 9 0 0 741149 13 332813 33 448212 46
Total 505500 5 648160 34 317134 81 418773 120
Change over quarter - - -3.9% 21.4% -4.9% 65.3% -8.5% 55.8%
Change over year -48.3% -16.7% -14.9% 21.4% 6.7% 62.0% -16.4% 42.9%
Change over three years 76.8% 25.0% 39.6% 183.3% 29.0% 211.5% 34.2% 185.7%
Change over five years -6.1% -
Change over ten years 57.9% -

 

 

Source: Land Registry

January 15, 2013