|Property Sales in Acton in August 2009|
Details of property transactions in the local area
The local property market saw very strong sales in August with 35 properties changing hands at an average price of £363,141.
These numbers get some confirmation from a survey done by the property web site Right Move which looks at asking prices rather than achieved sales prices.
Property asking prices in London have broken through the record high set in November 2007 as the drought of homes for sale around the country continues to distort the market. New research shows that the average asking price in London jumped 6.5% to £461,157 in the four weeks to 10 October, sailing through the high of £412,731 set in November two years ago.
The survey also shows that asking prices in England and Wales are now higher than a year ago, after climbing 2.8% in the past month. However, any optimism about the speed of any housing market recovery is expected to be dampened by today's report from the Financial Services Authority, which will outline plans for reform of the mortgage lending industry.
Martin Ellis, housing economist at the Halifax, said, "The combination of increased demand and a low level of properties available for sale has pushed up house prices in recent months. The marked improvement in affordability due to the reduction in both property prices and interest rates since mid- 2007 has been a key factor in stimulating higher demand."
Prices in London rose by 0.8% during August according to the Land Registry's House Price Index. The average price of a London home is £310,640 and this is down by 6.2% since last year.
The latest reported sales are given in the table below.
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.
Properties Sold in Acton W3 - August 2009
January 13, 2010