New data on Chiswick shows 10% rise over the last year but falling prices this
property prices continued to rise up to September according to recently published
land registry data but figures from hometrack.co.uk suggest sharp falls in November
registry data released this week shows that property prices in Chiswick continued
to be strong up to the end of September. The average property was priced at £409,008
a rise of 10% compared to the same period last year.
numbers suggest that the average price of a flat has risen by over 20%.
released this week were more up to date figures from hometrack.co.uk showing
a 3% fall in W4 property prices for November. The numbers also showed an increase
in the number of sellers registering with agents and a fall in the number of buyers
suggesting that there could be further local weakness in property prices to come.
Deering a financial analyst and local property owner has once again analysed the
numbers. Earlier in the year his research showed that according to the Land Registry
data there had been little rise in Chiswick property prices compared to before
September 11th 2001.
says that the figures show that the market has fully recovered from the downturn
after the World Trade Centre attack and moved ahead in the latest quarter.
added "This was a very strong quarter for local property prices. The underlying
price strength is masked by the moribund nature of the top end of the market.
Prices of terraced houses in Chiswick are up 17.6% over the last year and flats
are up more than 20%."
underlying price strength is masked by the moribund nature of the top end of the
market. Prices of terraced houses in Chiswick are up 17.6% over the last year
and flats are up more than 20%"
does point out that these numbers are subject to some distortion. "The Bedford
Park (W4 1) micro-market had been clearly having a really tough time over the
previous 9 months with virtually nothing at the top end moving. This has changed
according to the latest numbers. The average price of a property in this area
was £558,084 compared to £339,210 in the previous quarter. What this
shows us not necessarily that prices are rising but there is some liquidity in
the market again with the buyer strike for the very top end of the market over."
the numbers for Bedford Park are excluded from the numbers then both flats and
terraced houses rose by around 16% for the last year.
remains cautious on the long-term prospects for the market. He stated, "The
only way prices are sustainable at these levels are if interest rates remain low
and the economy picks up. Personally I'd be looking to lock in current interest
rates by fixing the rate on a mortgage."
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