Large number of Bromyard House units sell during the month

According to the latest Land Registry figures Acton property the average price of a property sold in Acton during November was £288,273. This is substantially down on previous months but the average is distorted by the sale of a large number of lower price units in Bromyard House. In total 23 units in the development were sold. Excluding these sales the average is £338,394 more in line with recent months.

According to the Land Registry London property prices are up by 6.8% in November compared to last year. This is the slowest annual rise in 2010 but remains the highest level in the country.

This brings the average property price in London to £341,009, in comparison to the figure for England and Wales, which is £164,773.

For the country as a whole November's data shows a fall of 0.6%. This is the third consecutive month in which prices have fallen. The annual house price growth rate has continued to decline for the sixth month in a row, with an increase of 2.2%. This is the smallest growth seen in 12 months.

Nationwide's House Price index for December which is based on offer prices rather than actual sales like the Land Registry did show an increase.

Martin Gahbauer, Nationwide's Chief Economist, said, "“There is little evidence to suggest that house price declines are likely to accelerate in the months ahead. Much of the weakness in property values since the Spring has been driven by a return of sellers to the market, following unusually low levels of property for sale in 2009 and early 2010. However, there is little to indicate that these sellers need to achieve a sale urgently for financial or economic reasons, which means that the downward pressure on house prices is only modest."

The latest reported sales are given in the table below.

The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database.

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 - November 2010

Previous Property Sales in Acton

April 6, 2011