|Alarming Fall in Acton Property Sales|
Turnover plunges by a third as prices drift off
Acton property sales in the first quarter of this year are down by a third compared with the same period in 2010. Less than 100 transactions took place from January to March which is half the level seen five years ago.
According to the Land Registry prices have fallen back from the close to peak levels seen at the end of last year down by 6.9% compared with the previous three months although they are up by 3.2% compared with the first quarter of last year and 22% compared with five years ago. These rises have been driven by house values as opposed to flats which are only up by 10% over the last five years.
The average value of a W3 home sold in the first quarter of 2011 was £337,167.
The low volumes and falling prices will be a concern to property developers in the area who still have a significant number of units to bring to the market.
House prices in London are now the only in the country that have risen compared with the same period last year. The Land Registry's House Price Index shows that the average price in the capital was £336,828 in March 2011 up by 0.8% compared to the same month last year. For England and Wales the average price is now £160,996 down by 2.3% from March 2010. Prices in the north east have fallen by 9.3% and in Wales they are down by 7.2%.
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 - Jan - Mar 2011
Acton Property Prices - October - December 2010
May 12, 2011