Chiswick Property Sales - October 2010

Local property prices fall from peak levels

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The latest official figures are indicating that local property prices have fallen from the peak seen during the Summer of 2010.

The average price of a home sold in W4 since the end of the third quarter of last year £638,778. This compares to £669,548 for the period July-September 2010.

Oliver Finn's Christian Harper said "Although speculation of global economics played an important part in the latest Land registry figures compounded by press speculation of a property crash in early September the actual figures match an apparent steady pattern with 2009 and even 2008. I am not concerned with this small swing in price points as they represent to be a small percentage of swing in the scheme of things. I find it much more interesting to see the change in levels of activity - only 27 completions took place in November. Activity levels need to dramatically improve to keep the market both fluid and sustainable.

"If stock levels fail to reach at least an average, buyers will either tire of looking due to nothing being available or become frenzied to buy which will cause a spiky market - which will undermine the foundations of market stability for 2011 and beyond."

It remains to be seen whether or not local home price get a subsequent boost from buyers from the financial sector. Some analysts are predicting that Chiswick will benefit from increased demand due to bankers' bonuses.

Featherstone Leigh Manager Matt Thompson said: "The impact of City bonuses to the Chiswick market was felt last year. With the City expected to pour out £7bn a proportion of this money will find its way to W4 which should increase the demand for the already restricted levels of stock here at the moment."

According to the Land Registry London property prices are up by 6.8% in November compared to last year. This is the slowest annual rise in 2010 but remains the highest level in the country.

This brings the average property price to £341,009, in comparison to the figure for England and Wales, which is £164,773.

Andrew Nunn of Andrew Nunn & Associates said, "The 2010 market witnessed some very healthy prices being achieved due to a scarcity of supply. This became more severe as the year developed with potential sellers failing to find suitable alternative property. Demand surpassed expectation with domestic buyers benefiting from the recovery of the London financial sector and overseas buyers benefiting from exchange rates and uncertain home economies.

"Prime property is selling for record prices whilst secondary and tertiary property is more price sensitive. Should interest rates rise by the middle of 2011, a likely scenario given current and future inflationary pressure, then more supply will inevitably come to the market. Once buyers see they have choice then the market will calm down and we will see single figure price appreciation. The message is clear should you be thinking of selling in 2011 then take well informed advice early in the year and do not be suckered in to "the highest price" - it may work against you and remember the sentiment in any market can change very quickly"

For the country as a whole November's data shows a fall of 0.6%. This is the third consecutive month in which prices have fallen. The annual house price growth rate has continued to decline for the sixth month in a row, with an increase of 2.2%. This is the smallest growth seen in 12 months.

Nationwide's House Price index for December which is based on offer prices rather than actual sales like the Land Registry did show an increase.

Martin Gahbauer, Nationwide's Chief Economist, said, "When house prices are trending down only modestly rather than decisively – as has been the case in recent months – it is not unusual to a see a mixed pattern of monthly declines and occasional increases."

He added, "London and the South East saw particularly large price gains during this period (2010), as the scarcity of property was most acute in these regions. London will also have benefited from the strong recovery in the financial sector, which is an important driver of buyer confidence and housing demand in the capital."

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October 2010 Property Sales in Chiswick

Address
Price (£)
Date
229, Wilkinson Way, W4 5XL
240,000
29/10/2010
41a, British Grove South, W4 2PU
266,250
29/10/2010
7, Addison Grove, W4 1EP
1,300,000
29/10/2010
18, Graham Road, W4 5DR
450,000
29/10/2010
175a, Southfield Road, W4 5LB
269,000
29/10/2010
79, Speldhurst Road, W4 1BY
825,000
29/10/2010
8, Eastbourne Road, W4 3EB
935,000
29/10/2010
3, Silver Crescent, W4 5SF
735,000
29/10/2010
36, Lower Flat, Clovelly Road, W4 5DS
310,000
28/10/2010
96, Airedale Avenue, W4 2NN
872,500
28/10/2010
40, Paxton Road, W4 2QX
675,000
28/10/2010
55, Silver Crescent, W4 5SF
754,000
28/10/2010
20, Chesterfield Road, W4 3HG
945,000
27/10/2010
48, Flat 1, Silver Crescent, W4 5SE
390,000
26/10/2010
40, Southfield Road, W4 1AA
1,400,000
26/10/2010
34, Speldhurst Road, W4 1BU
693,000
25/10/2010
8, Seymour Road, W4 5ES
600,000
23/10/2010
26, Windrush Close, W4 3TQ
312,500
22/10/2010
Carelia Court, 40, Flat 7, Graham Road, W4 5DR
470,000
22/10/2010
12, Ground Floor Flat, Carlton Road, W4 5DY
375,000
22/10/2010
34, Sutton Lane South, W4 3JT
1,295,000
22/10/2010
51, Somerset Road, W4 5DW
510,000
22/10/2010
94, Cranbrook Road, W4 2LJ
877,000
22/10/2010
19, Pyrmont Road, W4 3NR
650,000
22/10/2010
Windsor House, Flat 3, Heathfield Gardens, W4 4JT
525,000
21/10/2010
34b, Acton Lane, W4 5ED
390,550
21/10/2010
70, Barrowgate Road, W4 4QU
1,080,000
21/10/2010
17a, Chesterfield Road, W4 3HQ
1,250,000
20/10/2010
3, Shirley Road, W4 1DD
570,000
20/10/2010
11, Greenend Road, W4 1AS
340,000
15/10/2010
71, The Avenue, W4 1HJ
585,000
15/10/2010
399, Chiswick High Road, W4 4AR
390,000
15/10/2010
20, Ivy Crescent, W4 5NG
690,000
15/10/2010
84b, Southfield Road, W4 1AZ
357,500
14/10/2010
88, Fielding Road, W4 1DB
567,500
14/10/2010
2a, Netheravon Road, W4 2NA
356,150
12/10/2010
219, Staveley Gardens, W4 2TE
305,000
12/10/2010
Sydney House, Flat 1, Woodstock Road, W4 1DP
761,500
08/10/2010
40, Berrymede Road, W4 5JD
447,000
08/10/2010
39, Ellesmere Road, W4 3DU
380,000
08/10/2010
160, Southfield Road, W4 1AN
508,100
08/10/2010
4, Russell Close, W4 2NU
815,000
08/10/2010
9, Meade Close, W4 3NT
280,000
08/10/2010
11, Speldhurst Road, W4 1BX
780,000
08/10/2010
47, Magnolia Road, W4 3RB
526,000
08/10/2010
20, Fairlawn Grove, W4 5EH
1,550,000
08/10/2010
27, Kent Road, W4 5EY
601,500
08/10/2010
34, Priory Road, W4 5JA
830,000
08/10/2010
Sydney House, Flat 14, Woodstock Road, W4 1DP
711,000
07/10/2010
23, Watchfield Court, W4 4NB
286,000
07/10/2010
Chiswick Green Studios, 1, Flat 50, Evershed Walk, W4 5BW
725,000
07/10/2010
11, Kent Road, W4 5EY
640,000
04/10/2010
46, Watchfield Court, W4 4NB
330,000
01/10/2010
Chiswick Green Studios, 1, Flat 12, Evershed Walk, W4 5BW
1,425,000
01/10/2010
Chiswick Green Studios, 1, Flat 25, Evershed Walk, W4 5BW
950,000
01/10/2010
4, Fairlawn Avenue, W4 5EF
370,000
01/10/2010
9, Upham Park Road, W4 1PQ
427,500
01/10/2010
11, Beverley Road, W4 2LL
1,400,000
01/10/2010
45, Bollo Lane, W4 5LS
556,000
01/10/2010
39, Cunnington Street, W4 5ER
580,000
01/10/2010


* Some properties excluded from this table at owners' request

Property sales in September 2010

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Source: Land Registry

April 6, 2011

 

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