|Demand Surges for Acton Flats|
88% increase in number sold gives hope to developers
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.
August 9, 2012