Agents Predict Boom Time for Shepherd's Bush Property

Believe huge White City developments will have positive knock on effect

House in Rylett Road sold for £2,750,000. Picture: Right Move

There have been just 23 sales reported to the Land Registry so far this year but it is understood that Covid related working restrictions have meant that documents have been processed more slowly than normal. Local estate agents say that the market has been stop/start since the end of last year due to the second wave coronavirus lockdown and the uncertainty over Stamp Duty. However, in Spring with the extension of the tax break the consensus is that activity has picked up sharply.

Although the small number of sales make it difficult to reach firm conclusions about the direction of prices, market professionals believe that prices have remained steady through the pandemic and well sited, good quality properties will generally go for near the asking price.

The average price so far this year in the W12 postcode area is £795,696 down 5.2% on the same period in 2020.

The early indications are that the market for flats remains relatively quiet while houses continue to be sought after. The highest price paid so far this year was for a detached house on Rylett Road which changed hands for £2,750,000.

Property in Shepherd's Bush

Most local estate agents have a very positive view on local property values going forward.

A sales director at W12-based firm said, “Even people who live in the area often don’t appreciate the scale of what is being planned in the White City area. Shepherd’s Bush is sometimes seen as being the wrong side of the tracks as signified by Westfield’s branding preferences which never mentions it. However, I think this is set to change. The Edwardian property stock to the south and west of the area will complement nicely the deluxe apartments going up in White City.

“The conversion of derelict and little used parts of W12 into highly desirable living accommodation can only have a positive knock on effect on the rest of the area and I think we are just at the foothills of positive improvement which is going to be reflected in strong prices going forward.”

Shepherd's Bush Property Prices - (January - March 2021)
Area Detached Sales Semi-
Sales Terraced Sales Flats/
Sales Overall Ave Total Sales
W12 0 0 0 0 0 1166667 3 657500 2 963000 5
W12 7 0 0 0 0 950000 1 365000 2 560000 3
W12 8 0 0 0 0 0 0 586000 5 586000 5
W12 9 2750000 1 780000 1 1150000 2 507667 6 887600 10
Total 2750000 1 780000 1 1125000 6 534733 15 795696 23
Change over quarter - - -0.3% -78.6% 5.0% -68.8% 5.0% -70.1%
Change over year - - 23.5% -71.4% -29.6% -81.9% -5.2% -78.7%
Change over three years - - 7.9% -72.7% -36.0% -89.4% -7.8% -86.1%
Change over five years - - -0.3% -80.0% -0.1% -87.4% 13.4% -85.4%
Change over ten years - - 83.7% -80.0% 70.8% -78.3% 88.1% -77.5%

Source: Land Registry

Nationally the property market seems to have experienced a bounce in April after the announcement of the stamp duty holiday extension reaching a new record high average price of £238,831.

Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said, “Annual house price growth accelerated to 7.1% in April, only slightly below the peak of 7.3% recorded in December and up from 5.7% in March. In month-on-month terms, house prices rose by 2.1% in April, after taking account of seasonal effects, the biggest month rise since February 2004.

“Just as expectations of the end of the stamp duty holiday led to a slowdown in house price growth in March, so the extension of the stamp duty holiday in the Budget prompted
a reacceleration in April.

“However, our research suggests that while the stamp duty holiday is impacting the timing of housing transactions, for most people it is not the key motivating factor prompting them to move in the first place. For example, amongst homeowners surveyed at the end of April
that were either moving home or considering a move, three quarters said this would have been the case even if the stamp duty holiday had not been extended.


Like Reading Articles Like This? Help Us Produce More

This site remains committed to providing local community news and public interest journalism.

Articles such as the one above are integral to what we do. We aim to feature as much as possible on local societies, charities based in the area, fundraising efforts by residents, community-based initiatives and even helping people find missing pets.

We've always done that and won't be changing, in fact we'd like to do more.

However, the readership that these stories generates is often below that needed to cover the cost of producing them. Our financial resources are limited and the local media environment is intensely competitive so there is a constraint on what we can do.

We are therefore asking our readers to consider offering financial support to these efforts. Any money given will help support community and public interest news and the expansion of our coverage in this area.

A suggested monthly payment is £8 but we would be grateful for any amount for instance if you think this site offers the equivalent value of a subscription to a daily printed newspaper you may wish to consider £20 per month. If neither of these amounts is suitable for you then contact and we can set up an alternative. All payments are made through a secure web site.

One-off donations are also appreciated. Choose The Amount You Wish To Contribute.

If you do support us in this way we'd be interested to hear what kind of articles you would like to see more of on the site – send your suggestions to the editor.

For businesses we offer the chance to be a corporate sponsor of community content on the site. For £30 plus VAT per month you will be the designated sponsor of at least one article a month with your logo appearing if supplied. If there is a specific community group or initiative you'd like to support we can make sure your sponsorship is featured on related content for a one off payment of £50 plus VAT. All payments are made through a secure web site.


May 10, 2021