|Acton Property Sales - December 2011|
Average price in W3 shoots up as cheaper flats fail to sell
After a brief flurry of activity at the lower end of the Acton property market in November, turnover slumped again in December according to figures released by the Land Registry.
Just 36 properties sold compared to 61 during the previous month. The fall in volume seems largely down to a drop off in the sale of new build flats again raising concerns about the number of unsold units in the area.
There was a healthy rise in the average price of homes sold during the month. It shot up to £415,952 in the absence of sales in cheaper developments. The most expensive home sold was a flat on the Vale which went for £1,300,000.
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 2.8%. The North East experienced the greatest annual price fall with a decrease of 7.1%.
The December data from Land Registry's flagship House Price Index shows an annual price decrease of 1.3% which takes the average property value in England and Wales to £160,384. There is no monthly change from November to December.
The most up-to-date figures available show that, during October 2011, the number of completed house sales in England and Wales decreased by 6% to 55,309 compared to 58,634 in October 2010. The number of properties sold in England and Wales for over £1 million in October 2011 decreased by 10% to 525 from 582 in October 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.
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Properties Sold in Acton W3 - December 2011
March 28, 2012