Mystery Over Acton House Price 'Record'

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

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.

If your agent is claiming to be marketing your property effectively and it doesn't appear on ActonW3.com it may be time to choose a new agent.

House Sales in Acton - October and November 2018
Deed Date	Address	Post Code	Price (£)
23/11/2018	Flat 2 118 Avenue Road	W3 8QG	385,000
21/11/2018	28 Cotton Avenue	W3 6YE	117,000
21/11/2018	29 Shaa Road	W3 7LW	2,000,000
20/11/2018	27 Shaa Road	W3 7LW	6,200,000
19/11/2018	44 Vyner Road	W3 7LZ	680,000
16/11/2018	Flat 175 Napier House Bromyard Avenue	W3 7FL	285,000
16/11/2018	47 Perryn Road	W3 7LS	980,000
09/11/2018	99 Churchfield Road	W3 6AH	350,000
09/11/2018	12 Greenview Close	W3 7DZ	332,000
09/11/2018	24 East Acton Lane	W3 7EG	800,000
02/11/2018	1 Links Road	W3 0ER	800,000
02/11/2018	Flat 173 Napier House Bromyard Avenue	W3 7FL	367,500
31/10/2018	4 Eastfields Road	W3 0AA	805,000
31/10/2018	2 10 Alfred Road	W3 6LH	370,000
31/10/2018	14B Gunnersbury Lane	W3 8EB	495,000
31/10/2018	170 Creffield Road	W3 9PX	455,000
30/10/2018	78 Western Avenue	W3 7TX	560,000
30/10/2018	Flat 71 Barwick House Strafford Road	W3 8TH	330,000
30/10/2018	Flat 2 Acton House, 253 Horn Lane	W3 9EJ	368,000
29/10/2018	Flat 105 Trentham Court Victoria Road	W3 6BF	280,000
26/10/2018	Ground Floor Flat 366 Western Avenue	W3 0PL	355,000
26/10/2018	Flat 98 Ebbett Court Victoria Road	W3 6BX	385,000
26/10/2018	91 Shakespeare Road	W3 6SB	1,075,000
25/10/2018	Flat 452 Bromyard House Bromyard Avenue	W3 7BY	670,000
23/10/2018	363A Acton Lane	W3 8NR	562,500
22/10/2018	Flat 11 Gunnersbury Court Bollo Lane	W3 8JL	375,000
19/10/2018	Flat 268 Bromyard House Bromyard Avenue	W3 7BS	440,000
19/10/2018	Flat 160 Napier House Bromyard Avenue	W3 7FL	470,000
19/10/2018	32 Shalimar Gardens	W3 9JQ	390,000
18/10/2018	94 St Dunstans Avenue	W3 6QJ	796,000
18/10/2018	80 First Avenue	W3 7JW	850,000
18/10/2018	32 Newton Avenue	W3 8AL	530,000
16/10/2018	12 Carlisle Avenue	W3 7NG	650,000
15/10/2018	Flat 1 Springfield House Horn Lane	W3 6NU	352,500
12/10/2018	143 Cotton Avenue	W3 6YG	378,999
12/10/2018	5 Dordrecht Road	W3 7TE	960,000
12/10/2018	50 Heathfield Road	W3 8EJ	1,150,000
12/10/2018	383A Acton Lane	W3 8NR	525,000
11/10/2018	Flat 589 Bromyard House Bromyard Avenue	W3 7FG	350,000
09/10/2018	Flat 1 11 Goldsmith Road	W3 6PX	312,500
05/10/2018	Flat 4 Ancroft House, 28 Horn Lane	W3 6QY	325,000
05/10/2018	Flat 133 Issigonis House Cowley Road	W3 7UN	550,000
05/10/2018	15 Petersfield Road	W3 8NY	460,000
05/10/2018	1 Carbery Avenue	W3 9AD	1,160,000
01/10/2018	Flat 2 Hatfield Court Avenue Crescent	W3 8ER	448,995

 

 

January 21, 2019