|Acton Property Sales February 2009|
Only two sales in Bromyard House so far this year
The latest information show that very few properties are changing hands in the Acton area.
Very few properties changed hands in the area in the first quarter of the year. Reportedly marketing of the major flat developments has had such a poor response that the developers have withdrawn units for sale and are offering them for short term rent instead. Only two units from the massive Bromyard House development are shown as having been sold so far in 2009.
With such low volumes prices are difficult to track. Prices of terraced houses appear to be up over the last year but with only 8 such properties selling in the most recent period it is hard to take this as a definitive indication of the direction of the market. Flat prices also appeared to be relatively resilient but this could be down to developers selling the more attractive units in a project and being stuck with the less easily saleable units.
The average property in Acton now costs £334,141.
The Land Registry data for March for the country as a whole shows an annual house price change of -16.2%. This brings price levels back to those seen in August 2004.
London prices have fallen by 15.4 % to £299,613. Prices did rise slightly in March, the first time in a year the price index has seen a positive change.
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.
September 11, 2009