Strand on the Green home sells for nearly seven million

Further evidence of the continuing buoyancy of the Chiswick property has been provided by the sale of a house for the second highest price ever achieved in the area.

Zachary House at Strand on the Green, which featured in A Hard Day’s Night, the 1964 Beatles film, has been sold for £6,850,000. The only property in the W4 post code area ever to reach a higher price was Walpole House further up the river on Chiswick Mall which changed hands for £12,500,000 in 2008.

Norfolk House on Chiswick Mall has also been sold recently but with a sale price of just under £4 million it doesn't even rank in the top ten sales of all-time in the area.

Zachery House was once owned by Midge Ure of Ultravox and there was speculation that Midge and Bob Geldof wrote Do They Know It's Christmas (Feed the World) in the Thames-side location.

The Georgian house has more than 8,500sq ft of internal space including six bedrooms, a library, staff quarters, two balconies and three terraces and overlooks Oliver's Island - it was put up for sale by its owner Alan Smith, a former editor of the New Musical Express who carried out work to preserve its Grade II status.

The new buyer has not yet been revealed- when the house went up for sale at £6.95 million, there was speculation that it might go to an overseas buyer.

There have been 112 properties sold in Chiswick since the beginning of September according to figures from the Land Registry. 32 of these reached prices of over a million confirming the recent trend of over a quarter of properties in W4 selling for over a million.

The average price level during this period was £925,712 which, if sustained would represent a new record high.

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.

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September/October 2013 Property Sales in Chiswick

Property sales in August 2013

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Source: Land Registry

December 6, 2013