Mystery Over Acton House Price 'Record'

Land Registry records sale on Shaa Road at a price of over six million pounds

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A new record has been set for a price paid for a residential property in Acton after a house on Shaa Road was sold for £6,200,000 according to the Land Registry.

However, there is some confusion about the sale which was transacted late last year as the price is way above levels seen previously on the road. One local estate agent believes that a number of acquisions by the same family have been lumped into a single transaction by the Land Registry. Other residents at the road have said it is possible the price includes other properties at the rear.

The 10 bedroom semi-detached house has its own private driveway in front of over 4,000 sqft of accommodation set over three floors. The property includes a 48 ft open plan lounge/dining area with patio doors leading out on to a 70ft garden, ten bedrooms, six bathrooms and one additional reception room.

The property next door was reported as being sold the following day for £2,000,000.

The previous highest price recorded in the W3 post code area wa £3,450,000 for a home in Twyford Crescent.

The apparently record breaking sale in Acton comes as the December 2018 UK Residential Market Survey from surveyors’ group the RICS showed the worst conditions since they started publishing the report 20 years ago.

Key activity indicators continued to slip in December with sales volumes dwindling, and enquire, agreed sales and new instructions all down. New instructions remain in negative territory and have now declined in 19 of previous 24 months. Sales expectations point to a further decline over the next few months.

Over the next three months sales expectations are now either flat or negative across the UK. The headline net balance of -28% represents the poorest reading since the series was formed in 1999. The twelve-month outlook is a little more upbeat, suggesting that some of the near-term pessimism is linked to the lack of clarity around what form of departure the UK might make from the EU in March.

Stock levels on estate agents books remain close to record lows, currently standing at an average of just 42 properties per branch. Furthermore, supply issues also remain evident in the lettings market, as landlord instructions also declined once again, rounding off a year in which they have fallen in all twelve months.

Simon Rubinsohn, RICS Chief Economist, said, It is hardly a surprise with ongoing uncertainty about the path to Brexit dominating the news agenda, that even allowing for the normal patterns around the Christmas holidays, buyer interest in purchasing property in December was subdued. This is also very clearly reflected in a worsening trend in near term sales expectations. Looking a little further out, there is some comfort provided by the suggestion that transactions nationally should stabilise as some of the fog lifts, but that moment feels a way off for many respondents to the survey.

“Meanwhile it is hard to see developers stepping up the supply pipeline in this environment. Getting to the government's 300,000 building target was never going to be easy but pushing up to anywhere near this figure will require significantly greater input from other delivery channels including local authorities taking advantage of their new-found freedom.”

For the country as a whole house price growth according to the Nationwide House Price Index has slowed to just 0.5% in 2018, down from 2.6% in 2017. London has seen a decline in prices over the year with the average price declining by 0.7% to £466,988.

Robert Gardner, Nationwide's Chief Economist, said, “The economic outlook is unusually uncertain. However, if the economy continues to grow at a modest pace, with the unemployment rate and borrowing costs remaining close to current levels, we would expect UK house prices to rise at a low single-digit pace in 2019."

The Bank of England published figures showing a slump in mortgage approvals in November. Loan approvals for new house purchases dropped almost 5% to 63,728 — the lowest for seven months.

A regular market review of the local property scene appears on the site. You can click here for the latest update and analysis.

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House Sales in Acton - October and November 2018
Deed Date Address Post Code Price (£)
23/11/2018 Flat 2 118 Avenue Road W3 8QG
21/11/2018 28 Cotton Avenue W3 6YE
21/11/2018 29 Shaa Road W3 7LW
20/11/2018 27 Shaa Road W3 7LW
19/11/2018 44 Vyner Road W3 7LZ
16/11/2018 Flat 175 Napier House Bromyard Avenue W3 7FL
16/11/2018 47 Perryn Road W3 7LS
09/11/2018 99 Churchfield Road W3 6AH
09/11/2018 12 Greenview Close W3 7DZ
09/11/2018 24 East Acton Lane W3 7EG
02/11/2018 1 Links Road W3 0ER
02/11/2018 Flat 173 Napier House Bromyard Avenue W3 7FL
31/10/2018 4 Eastfields Road W3 0AA
31/10/2018 2 10 Alfred Road W3 6LH
31/10/2018 14B Gunnersbury Lane W3 8EB
31/10/2018 170 Creffield Road W3 9PX
30/10/2018 78 Western Avenue W3 7TX
30/10/2018 Flat 71 Barwick House Strafford Road W3 8TH
30/10/2018 Flat 2 Acton House, 253 Horn Lane W3 9EJ
29/10/2018 Flat 105 Trentham Court Victoria Road W3 6BF
26/10/2018 Ground Floor Flat 366 Western Avenue W3 0PL
26/10/2018 Flat 98 Ebbett Court Victoria Road W3 6BX
26/10/2018 91 Shakespeare Road W3 6SB
25/10/2018 Flat 452 Bromyard House Bromyard Avenue W3 7BY
23/10/2018 363A Acton Lane W3 8NR
22/10/2018 Flat 11 Gunnersbury Court Bollo Lane W3 8JL
19/10/2018 Flat 268 Bromyard House Bromyard Avenue W3 7BS
19/10/2018 Flat 160 Napier House Bromyard Avenue W3 7FL
19/10/2018 32 Shalimar Gardens W3 9JQ
18/10/2018 94 St Dunstans Avenue W3 6QJ
18/10/2018 80 First Avenue W3 7JW
18/10/2018 32 Newton Avenue W3 8AL
16/10/2018 12 Carlisle Avenue W3 7NG
15/10/2018 Flat 1 Springfield House Horn Lane W3 6NU
12/10/2018 143 Cotton Avenue W3 6YG
12/10/2018 5 Dordrecht Road W3 7TE
12/10/2018 50 Heathfield Road W3 8EJ
12/10/2018 383A Acton Lane W3 8NR
11/10/2018 Flat 589 Bromyard House Bromyard Avenue W3 7FG
09/10/2018 Flat 1 11 Goldsmith Road W3 6PX
05/10/2018 Flat 4 Ancroft House, 28 Horn Lane W3 6QY
05/10/2018 Flat 133 Issigonis House Cowley Road W3 7UN
05/10/2018 15 Petersfield Road W3 8NY
05/10/2018 1 Carbery Avenue W3 9AD
01/10/2018 Flat 2 Hatfield Court Avenue Crescent W3 8ER



January 21, 2019

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