Thin volumes in local property market

The latest information show that very few properties are changing hands in the Acton area. Only 18 have been recorded as having been sold during January, one of the lowest monthly totals on record.

The Land Registry data for January for the country as a whole shows an annual house price change of -15.1 per cent. This marks the seventeenth month in a row where the annual rate of change has fallen. This contrasts with the 21 months of uninterrupted increases in the annual rate of change between December 2005 and August 2007. Prices in London were down by 14.1% over the year.

Oliver Finn's Christian Harper said, "Transactions are certainly at an all time low. However, backdated factual figures often provide a distorted view of a current market and it must be said that the number of transactions have improved as more and more of the public consider that we may be at the bottom of market prices, mortgages are cheap and many homeowners are only too happy to negotiate with a trustworthy, solid buyer"

The average property in England and Wales is currently worth £156,753 and the rate of monthly price change stands at -0.8 per cent. Sales volumes nationally have continued to decrease, with the number of sales averaging 41,014 per month in the months August to November 2008. In the same period in 2007, the average was £106,495.

If you are thinking of selling or buying in the area - tell your estate agent you use ActonW3.com. The site offers the only exclusive coverage of the local property market available anywhere.

A regular market review of the local property scene appears on the site. You can click here for the latest update and analysis.

If your agent is claiming to be marketing your property effectively and it doesn't appear on ActonW3.com it may be time to choose a new agent.

Previous Property Sales in Acton

May 18, 2009