Chiswick Property Prices Remain Steady

Average W4 price close to record levels at £625,488

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Chiswick Property - First Quarter 2010

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Chiswick property prices have remained steady in the latest maintaining close to record levels in the second quarter of 2010.

Average price in W4 £625,488 largely unchanged from the previous quarter but up by 25% on what was a weak quarter in the comparable period in 2009.

Over the last three years prices are up by 18% although much of that rise is attributable to increased prices at the top end of the market. Flats and terraced houses have only risen marginally.

Oliver Finn's Christian Harper said, "The market has certainly seen an almost 2007 level of activity. Asking prices, sealed bids and “we would like to view in 10 minutes so we don’t miss this one” are all common place in our office currently. Confidence has been at an all time high with buyers during the past quarter however due to the holiday season activity has certainly slowed in the last few weeks.

"It appears that medium term confidence is running high in many sectors which naturally provides a solid foundation to a stable and slowly increasing market in the residential property market."

Prices almost doubled over the last decade although it is notable that volumes, despite having recovered from the lows seen during the financial crises, are nowhere near those seen ten years ago.

London overall experienced an increase of 12.2 per cent in June compared to last year. In comparison to this, the figure for England and Wales as a whole was 8.4 per cent. London’s house prices are now around the same levels they were three years ago. London's monthly change brings the average house price there to £338,027, while the average for England and Wales is £166,072.

Looking ahead some analysts are not optimistic that the current price strength will be maintained.

Miles Shipside, commercial director of Rightmove, comments, “The number of new mortgages being approved each month is less than half the number of new sellers, with the imbalance being exacerbated by the increase of nearly 50% in the number of properties coming to market compared to a year ago. More aggressive pricing is now the order of the day, which means that conditions are ripe for a strong buyers’ market in the second half of 2010. This is likely to see the average price gains of 7% for the first half of the year wiped out by year-end, in line with Rightmove’s original forecast for the year of no net change in prices”.

W4 Property Prices - April - June 2010

Area Semi-Det Sales Terraced Sales Flat/
Sales Total Ave Total Sales
W4 1 1520960 7 779380 13 381234 19 718516 39
W4 2 1608001 6 889732 14 325124 12 812679 32
W4 3 819500 9 616957 7 340714 14 548807 30
W4 4 1360000 4 0 0 384368 16 579494 20
W4 5 646725 3 433834 11 335260 15 404871 29
Total 1208635 29 703979 45 356496 76 625488 150
Change in Quarter 15.7% 3.6% -9.9% -8.2% 3.4% -1.3% 0.4% -5.1%
Change in year 32.2% 163.6% 9.0% 21.6% 19.7% 55.1% 25.0% 54.6%
Change in three years 28.0% -23.7% 5.3% -27.4% 2.4% -47.6% 18.5% -39.5%
Change in five years 77.0% -9.4% 34.1% -38.4% 28.8% -36.1% 40.7% -33.9%
Change in ten years 126.5% -17.1% 84.1% -50.0% 84.0% -53.7% 99.9% -49.3%


Roughly speaking the post code sector areas are as follows:

1 - Bedford Park and the north side of the High Road

2 - The south side of the eastern end of the High Rd down to the river at Corney Reach

3 - The Grove Park area and over to Strand on the Green

4 - The west of Chiswick between the A4 and Chiswick High Rd - (a high concentration of flats)

5 - The north west of Chiswick - Acton Green mainly


August 13, 2010