Demand Surges for Acton Flats

88% increase in number sold gives hope to developers

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The market for flats in Acton, which has been moribund for some time, looks to have sprung to life in recent months.

A massive overhang of properties for sale had previously discouraged buyers but in the second quarter of this year 128 flats were sold, an 88% increase on the same period in 2011.

The figures from the Land Registry show that the average price of a property in Acton has been static over the last year at £364,221. This is below the average increase for London as a whole.

However, the increased proportion of flats sold during the period may be masking a rise in prices overall. The number of sales of higher priced houses grew less rapidly than those for flats.

Prices of semi-detached houses rose by 7.3% over the year, terraced houses were up by 7.8% and flats were up by 10%

London has been the best performing property market over the last year according to the Land Registry's House Price index. Prices were up by 6.3% in the year to June.

For England and Wales as a whole the House Price Index shows an annual price increase of 0.9% which takes the average property value in England and Wales to £161,777.

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 - April - June 2012
Area Semi-Det Sales Terraced Sales Flat/Mais Sales Total Averages Total Sales
W3 0 454500 6 498333 6 0 0 476417 12
W3 6 489362 4 713166 9 248366 15 432194 28
W3 7 536571 7 436666 6 287657 66 321030 79
W3 8 603333 3 427642 7 252055 9 372210 19
W3 9 884990 5 0 0 295981 38 364470 43
Total 587016 25 536499 28 283021 128 364221 181
Change in Quarter -2.7% 47.1% 14.5% 7.7% 7.7% 75.3% 1.5% 56.0%
Change in year 7.3% 56.3% 7.8% -12.5% 10.1% 88.2% 0.2% 56.0%
Change in three years 37.2% 31.6% 35.3% 33.3% 20.9% 220.0% 12.9% 126.3%
Change in five years 10.2% -24.2% 31.1% -9.7% 10.2% -16.3% 10.8% -17.7%

 

Acton Property Prices - January - March 2012
Area Semi-Det Sales Terraced Sales Flat/Mais Sales Total Averages Total Sales
W3 0 405400 5 487250 3 313237 4 395142 12
W3 6 526500 4 514785 7 250312 16 359796 27
W3 7 773333 3 393545 10 280260 19 361887 32
W3 8 0 0 531000 6 240722 11 343173 17
W3 9 759990 5 0 0 258771 23 348274 28
Total 603115 17 468719 26 262775 73 358812 116
Change in Quarter 0.3% -29.2% -13.8% 73.3% 14.5% -14.1% 5.7% -6.5%
Change in year 2.2% -15.0% -0.5% 116.7% 15.3% 19.7% 6.4% 24.7%
Change in three years 64.1% 183.3% -3.5% 225.0% -0.3% 265.0% 7.4% 241.2%
Change in five years 12.6% -58.5% 9.9% -29.7% 8.0% -58.0% 10.5% -54.5%

 

August 9, 2012

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