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 .

 

Acton Property Prices - Jan - Mar 2011

Area Semi-Det Sales Terraced Sales Flat/Mais Sales Total Averages Total Sales
W3 0 459300 5 526083 6 0 0 495727 11
W3 6 0 0 415866 6 233376 17 280982 23
W3 7 588990 5 0 0 224614 19 300526 24
W3 8 544200 5 0 0 227900 11 326744 16
W3 9 767900 5 0 0 225782 14 368445 19
Total 590098 20 470975 12 227916 61 337167 93
Change in Quarter 0.0% -13.0% 0.8% -47.8% -10.8% -29.9% -6.9% -31.6%
Change in year 3.7% -20.0% 18.4% -50.0% -5.1% -32.2% 3.2% -33.1%
Change in three years -0.4% -25.9% 1.9% -45.5% -18.2% -33.7% -8.2% -34.0%
Change in five years 28.4% -33.3% 37.9% -68.4% 10.0% -48.3% 22.4% -50.0%

 

Acton Property Prices - October - December 2010

Area Detached Sales Semi-Det Sales Terrace Sales Flat/
Mais
Sales Total Ave Total Sales
W3 0 0 0 412322 9 468000 3 0 0 426242 12
W3 6 0 0 0 0 495624 8 228957 26 291702 34
W3 7 904999 3 524166 6 469777 9 281165 33 379734 51
W3 8 0 0 0 0 381500 3 235803 14 261514 17
W3 9 0 0 839812 8 0 0 264210 14 473520 22
Total 904999 3 590191 23 467021 23 255535 87 362223 136
Change in Quarter 25.6% 0.0% -13.2% -17.9% -4.3% -4.2% 3.4% -18.7% -1.1% -16.0%
Change in year - - 29.5% 27.8% 21.0% 53.3% 4.3% 6.1% 22.2% 18.3%
Change in three years - - 12.6% -11.5% -1.3% -30.3% -7.4% -32.6% 5.0% -27.7%
Change in five years - - 43.5% -30.3% 33.6% -48.9% 25.7% -29.8% 34.2% -32.7%

 

 

May 12, 2011

 

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