Flat Sales Slump Drives Average Acton Home Price To New High

Potential supply glut causes anxiety for buyers in the W3 area

A house on Montague Gardens sold for £1,700,000 at the end of last year
A house on Montague Gardens sold for £1,700,000 at the end of last year

The average sale price of a home sold in Acton surged to a new all-time high at the end of 2020 according to the latest official figures.

The top line number is misleading however as it is mainly a function of the collapse in demand for flats. Only 19 were reported as sold by the Land Registry in the final three months of the year. Although this number may rise as more sales are registered it is likely to remain well below normal levels.

At the same time the demand for larger properties appears to have remained relatively robust. Some of these appear to be Homes in Multiple Occupation but family homes above the £1,000,000 mark remain in demand.

A terraced house on Baldwyn Gardens sold for £1,613,400 and two houses on Montague Gardens reached high prices with one of them going for £1,700.000

The combination of these two trends resulted in the average sale price in the last three months of the year increasing by 24.8% compared with the same period in 2019 to £717,732, the highest quarterly average on record. With only 33 properties changing hands it cannot be said with confidence that the average sale price is an accurate reflection of the true state of residential property in the area.

The health of the market for flats is causing some industry participants concern. The huge development along Bollo Lane for which TfL recently won approval will add over 800 flats to an already full development pipeline for the area.

One local agent said, “These numbers shouldn’t be a surprise as demand for flats has been patchy for a while. Rents are softening a bit and many people have not been tempted by the stamp duty holiday. That said it is hard to see demand improving after the extension. The constant news about new developments doesn’t really help as it is hard to argue that there will be much price upside due to all the supply in the pipeline and many potential owner occupiers are anxious about capital values. It is also worrying investors who are concerned about yields being hit if supply drives down rent.”

Acton Property Prices (October - December 2020)
Area Semi-det Sales Terraced Sales Flat/
Sales Overall
W3 0 697850 1 0 0 0 0 697850 1
W3 6 910000 2 1075850 4 452000 4 793140 10
W3 7 995000 2 739000 1 457499 2 728800 5
W3 8 1000000 1 1060000 1 533176 8 632541 10
W3 9 1525000 2 0 0 394100 5 717214 7
Total 1069731 8 1017067 6 471522 19 715732 33
Change in Quarter -5.3% -60.0% 54.4% -25.0% -1.2% -64.8% 8.9% -60.2%
Change in year 19.7% -46.7% 24.0% -60.0% 5.2% -74.7% 24.8% -69.2%
Change in three years 5.4% -42.9% 39.4% -66.7% 11.2% -71.6% 15.6% -67.6%
Change in five years 15.1% -27.3% 22.4% -81.8% 7.7% -80.8% 25.6% -77.2%
Change in ten years 81.3% -65.2% 117.8% -73.9% 84.5% -78.2% 97.6% -75.7%


The Nationwide House Price Index for January showed that the annual rate of increase i slowed to 6.4% from 7.3% in December, while average house prices have fallen by 0.3% month-on-month, from £230,920 in December to £229,748 in January.

Robert Gardner, chief economist at Nationwide, said, “To a large extent, the slowdown probably reflects a tapering of demand ahead of the end of the stamp duty holiday, which prompted many people considering a house move to bring forward their purchase. While the stamp duty holiday is not due to expire until the end of March, activity would be expected to weaken well before that, given that the purchase process typically takes several months (note that our house price index is based on data at the mortgage approval stage).”

There are regular updates on the local property market in the ActonW3.com newsletter. To register to receive it .

Like Reading Articles Like This? Help Us Produce More

This site remains committed to providing local community news and public interest journalism.

Articles such as the one above are integral to what we do. We aim to feature as much as possible on local societies, charities based in the area, fundraising efforts by residents, community-based initiatives and even helping people find missing pets.

We’ve always done that and won’t be changing, in fact we’d like to do more.

However, the readership that these stories generates is often below that needed to cover the cost of producing them. Our financial resources are limited and the local media environment is intensely competitive so there is a constraint on what we can do.

We are therefore asking our readers to consider offering financial support to these efforts. Any money given will help support community and public interest news and the expansion of our coverage in this area.

A suggested monthly payment is £8 but we would be grateful for any amount for instance if you think this site offers the equivalent value of a subscription to a daily printed newspaper you may wish to consider £20 per month. If neither of these amounts is suitable for you then contact info@neighbournet.com and we can set up an alternative. All payments are made through a secure web site.

One-off donations are also appreciated. Choose The Amount You Wish To Contribute.

If you do support us in this way we’d be interested to hear what kind of articles you would like to see more of on the site – send your suggestions to the editor.

For businesses we offer the chance to be a corporate sponsor of community content on the site. For £30 plus VAT per month you will be the designated sponsor of at least two articles a month with your logo appearing if supplied. If there is a specific community group or initiative you’d like to support we can make sure your sponsorship is featured on related content for a one off payment of £50 plus VAT. All payments are made through a secure web site.


February 10, 2021