New Record High for Acton Property Prices

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Rosemont Road property is area's third most expensive

The number of properties exchanging hands in Acton is at the highest level it's been in the last six years with average prices up 14.8% compared to last year.

Latest figures from the Land Registry show that 210 homes were sold in the last quarter (July - September) with flats (138) and terraced houses (40) accounting for the bulk of the sales.

Houses are still inevitably outperforming flats in terms of prices, traditional terraces are averaging out at £629,459 whilst flat buyers can expect to pay around £306,029.

Faisal Yousuf from citydeal estates says W3 property is at a premium:

'' We are increasingly using sealed bid situations as demand from buyers exceeds available stock.  We see the number of transactions continuing to increase as first time buyers have easier access to finance through both Help to Buy and the increased appetite from high street lenders. Together with the continued international interest we see prices and transaction numbers rising into 2014.'' 

Of interest to those with a bit more money to spend - a house on Rosemont Road recently became the area's third most expensive at £1,775,000.

The September data from Land Registry's House Price Index shows that London remains the best performing property market in England and Wales. The average price of a home in the capital rose by 9.3% over the year to £393,462.

Jon Pishiri, RICS London residential spokesperson commented, “Increasing demand and continuing low supply are major determinants in London prices being pushed up. The Help to Buy initiative coupled with rising rental values are further encouraging people to purchase a house as opposed to renting. There is an obvious need to increase supply to the market in order to address this problem.”

For the country as a whole prices rose by 3.4% which takes the average property value in England and Wales to £167,063. Repossession volumes decreased by 28 per cent in July 2013 to 1,187 compared with 1,645 in July 2012.

The number of properties sold in England and Wales for over £1 million in July 2013 increased by 34 per cent to 1,143 from 852 in July 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 .

Acton Property Prices (July - September 2013)
Area	Detached	Sales	Semi-Det	Sales	Terraced	Sales	Flat/ Mais	Sales	Total Ave	Total Sales
W3 0			591000	2	547279	7	328833	6	465730	15
W3 6	825000	1	752500	4	784350	10	264142	48	386624	63
W3 7	1200000	1	585000	3	521995	10	309507	28	400980	42
W3 8	-	-	950000	1	637227	13	343096	42	422214	56
W3 9	1203000	5	901630	15	-	-	321714	14	707160	34
Total	1148571	7	816858	25	629459	40	306029	138	456533	210
Change in Quarter	-1.7%	75.0%	8.7%	-19.4%	11.4%	42.9%	-1.1%	32.7%	0.3%	25.7%
Change in year	-	-	17.7%	13.6%	15.2%	14.3%	8.1%	35.3%	14.8%	32.1%
Change in three years	-	-	20.2%	-10.7%	29.0%	66.7%	23.8%	29.0%	24.6%	29.6%
Change in five years	-	-	80.1%	177.8%	53.3%	110.5%	13.0%	220.9%	37.8%	195.8%
Change in ten years	-	-	126.0%	-30.6%	113.1%	-2.4%	64.0%	25.5%	87.0%	12.3%

 

Acton Property Prices (April - June 2013)
Area	Detached	Sales	Semi-Det	Sales	Terraced	Sales	Flat/ Mais	Sales	Total Ave	Total Sales
W3 0	0	0	517681	8	531500	6	465833	6	506273	20
W3 6	740000	1	824111	9	602400	10	259270	25	459172	45
W3 7	1317500	2	825042	6	515825	6	320452	29	464495	43
W3 8	0	0	450000	1	580790	5	310994	36	346423	42
W3 9	1300000	1	906421	7	612000	1	301625	8	627644	17
Total	1168750	4	751731	31	565139	28	309410	104	454977	167
Change in Quarter	-	-	14.4%	24.0%	1.9%	-3.4%	4.2%	-18.8%	17.4%	-8.2%
Change in year	-	-	28.1%	24.0%	5.3%	0.0%	9.3%	-18.8%	24.9%	-7.7%
Change in three years	-	-	49.9%	14.8%	30.0%	12.0%	22.9%	35.1%	34.0%	29.5%
Change in five years	-	-	31.6%	106.7%	12.9%	154.5%	12.8%	76.3%	27.8%	96.5%
Change in ten years	-	-	128.1%	-11.4%	70.3%	-31.7%	64.7%	-3.7%	84.3%	-9.2%

 

 

November 21, 2013