|Acton Property Prices Falter|
W3 home values fall below London average
The latest statistics on Acton property show that prices have fallen from the record levels seen previously.
The average home price in the area has fallen to £344,909 in the most recent quarterly figures from the Land Registry compared to £366,677 in the previous quarter. Over the year however the comparison looks much better with the average up by 19.9%
After rising above the London average last quarter Acton slipped back below again. Also likely to be of concern for local agents is the level of activity in the market. The amount of sales was down by 42.5% on the same quarter of last year. Even allowing for the late reporting of sales to the Land Registry there is clearly a substantial slowdown in turnover.
Over the longer term Acton property prices are now up by 30.2% over the last three years and 42.6% over five years.
Prices in London as a whole were up by 14.3% over the last year with the average property costing £354,625. London is seeing the highest levels of increase in the country.
House prices in England and Wales dropped by 0.4 per cent in December compared to November, taking the average price to £184,469. It is the first fall for England and Wales since August 2005. Over the year prices were up by 6.7%
In a forthcoming edition of the ActonW3.com newsletter there will be a complete listing of recent property sales in the area. To register to receive it click here.
Acton Property Prices - October - December 2007
February 28, 2008