|Flat Prices in W12 Creep Up to All Time High|
But overall average slides from 2013 high
The average price of a flat in Shepherd's Bush has crept up to reach an all time high of £380,300.
Figures from the Land Registry show that in the last quarter of 2013, the average price rose by a small .3% over the previous quarter.
The overall average property price, by contrast, fell sharply from the previous previous three months, when the price spiked by 17.6% to reach £606,076. This time round it dropped by 13.1% to £526,828.
Over the year however, this was still a rise of 6.2% and 23.6% over three years.
While flats showed a clear upward trend between October and December, the picture for houses was more mixed.
At the top of the market, detached houses showed a rise of 28.9% to £947,500 but only two changed hands during the period.
The average price of semi-detached houses on the other hand dropped from £1,165,000 to £826,667 - a fall of 29% from the previous quarter, but still up 33% over the year.
Terraced houses in Shepherd's Bush also slipped from £1,012,432 to £866,152, a fall of 14.4%. Again however, it was still up on the same period in the previous year, though this time by a smaller 3.9%.
No homes in Shepherd's Bush sold for over £2 million in this quarter - the most expensive property during was on Hartswood Road, with a price tag of £1,900,000.
The December data from Land Registry's House Price Index shows that London remains the best performing property market in England and Wales. The average price of a home in the capital rose by 11.2% over the year to £403,972.
For the country as a whole prices rose by 4.4% which takes the average property value in England and Wales to £167,353. Repossession volumes decreased by 28 per cent in July 2013 to 1,187 compared with 1,645 in July 2012.
The most up-to-date figures available show that during October 2013 the number of completed house sales in England & Wales increased by 21 per cent to 71,929 compared with 59,213 in October 2012. The number of properties sold in England and Wales for over £1 million in October 2013 increased by 40 per cent to 913 from 651 in October 2012.
The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database.
Source: Land Registry
February 16, 2014