|Acton Property Sales - September 2011|
Falling volumes raise concern about unsold units
After a period of relatively brisk activity during the Summer things seem to have slowed down in the Acton property market. Only 43 sales have been reported since the end of August compared to 59 in that month alone.
This raises concerns due to anecdotal evidence of high numbers of unsold units at local property developments.
The average price since the end of August was £335,285 which does represent an increase but the average was previously depressed by sales in the Victoria Court development. This leaves W3 property prices below the London average.
The September data from Land Registry's flagship House Price Index shows an annual price decrease of 2.6% which takes the average property value in England and Wales to £162,109. The monthly change from August to September is a decrease of 0.3% and continues the negative monthly price change seen in August of -0.1 per cent.
London was the only region in England and Wales to experience an increase in its average property value over the last 12 months with a movement of 2.7% to £349,046. The North East experienced the greatest annual price fall with a decrease of 8.2%.
The most up-to-date figures available show that during July 2011, the number of completed house sales in England and Wales decreased by 11 per cent to 59,919 from 67,475 in July 2010. The number of properties sold in England and Wales for over £1 million in July 2011 decreased by 24 per cent to 707 from 932 in July 2010.
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 - September 2011
March 27, 2012