|New Record High for Acton Property Prices|
Renewed interest in family homes pushes up average value in W3
Latest figures show property prices for houses in Acton are at an all time high.
From April to June the average price for all sales in the W3 area was £454,977 - up 24.9% on the last year - partly explained by more detached houses exchanging hands in this quarter.
Volumes are slightly down mainly due to a fall in the number of flats selling but the number of houses being bought is on the increase helping push up the average.
There are single digit rises over the year if you just look at terraced house or flats - so it's the change in the mix of sales towards higher priced properties which is driving up the headline number.
Flat sales are not at an all-time high but are still going for over £300,000.
Faisal Yousuf from citydeal estates says the market is buoyant:
'' In spite of the higher prices, buyer interest shows no sign of dwindling and we continue to sign new clients at a record pace; the lower end of the market (sub £600,000) is a huge focus of this attention.
''There is fierce competition for the best properties with a substantial demand for buy to let properties coming from our overseas clients.''
It remains the best performing property market in England and Wales rising by 6.9% over the last year to £383,930.
For the country as a whole prices only rose by 0.8% over the year which takes the average property value in England and Wales to £162,621.
The most up-to-date figures available show that during April 013, the number of completed house sales in England and Wales increased by 12 per cent to 48,367 compared with 43,252 in April 2012.
The number of properties sold in England and Wales for over £1 million in April 2013 increased by 45 per cent to 703 from 484 in April 2012.
The West Midlands was the only region to see an increase (8 per cent) in repossession sales between April 2012 and April 2013. The region with the greatest fall in the number of repossession sales was London where repossessions dropped by 37 per cent (April 2013 compared with April 2012).
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.
September 25, 2013