|W3 Property Prices Still Close to Peak|
Cause for concern for developers as flat sales fall
Acton property prices have sustained levels close to their all-time high according to the latest figures from the Land Registry. The average value of a W3 home sold in the fourth quarter of 2010 was £362,223.
This is up by 22.2% on the same quarter in the previous year but down by 1.1% on the previous three months which saw the highest ever level reached by local prices.
Flat prices did see a rise over the previous quarter but over the year they are only up by 4.3% and the volume of sales appears to be on a downward trend. Sales of apartments are recovering more slowly that the rest of the market which must be a concern to developers who still have a significant number of units to sell.
London as a whole remains by far and away the strongest area in the country in price terms with home values rising by 6.2% in December compared to the same month in 2009. The average London property now costs £342,325. For England and Wales as a whole property prices rose by 1.5% with many areas of the north seeing falling values over the year. The average home price in the U.K. is now £163,814.
The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database.
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 2010
Acton Property Prices - July - September 2010
February 8, 2011