Ealing Property on The Up


W5 and W13 areas seeing a huge surge in sales

The latest Land Registry figures show more property is changing hands for higher prices in the Ealing area.

In W5 prices were down slightly in the latest quarter but well up (more than 11%) year on year. Flats sales have also shown a good recovery more recently.

In W13 the average price of a property was up by a massive 40% to £424,528 with increased activity in the detached and semi-detached market.

Terraced houses and flat sales are also up 20% year on year. The volumes are double compared with the same time last year.

In December, London experienced an annual house price change of 6.1 per cent according to the Land Registry. This is the third month in a row that prices have increased year on year. Although London’s annual movement has mirrored that of England and Wales for some time, it now appears that London’s growth in general is increasing more rapidly.

The figures for England and Wales as a whole in December show an annual increase of 2.5 per cent. This brings the average house price in England and Wales to £161,783. This is the first positive annual house price change since May 2008.

Right Move's House Price index, which is based on offered prices rather than sales prices, is showing that in January in London prices rose to an average of £407,731. This represents an annual change of 5.5% Right Move say their figures show 'century low' stock levels for estate agents with the average agent having less than 65 properties on their books.

Miles Shipside, commercial director of Rightmove said, “the decision of post New Year sellers to ask for a higher price could be a shrewd move. In spite of problems brewing for later in the year, there are definitely some of the ingredients for a buoyant spring, and a window of opportunity that sellers may wish to take advantage of ”.

The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database.

Ealing Property Prices - October - December 2009

W5 Post Code Area

Area Detached Sales Semi-Det Sales Terrace Sales Flat/
Mais
Sales Total
Ave
Total Sales
W5 1 0 0 475642 7 446489 13 293109 11 398647 31
W5 2 1205000 5 0 0 0 0 293642 20 475914 25
W5 3 1090166 3 845000 4 0 0 275014 21 443778 28
W5 4 0 0 431062 8 441520 22 248187 8 398617 38
W5 5 0 0 0 0 535000 3 264166 6 354444 9
Total 1161937 8 534631 19 450600 38 279437 66 419993 131
Change in Quarter - - -7.9% -38.7% -1.1% 0.0% 10.7% 13.8% -5.8% -1.5%
Change in year 149.0% 166.7% -5.7% 26.7% 8.0% 81.0% 4.6% 83.3% 11.4% 74.7%
Change in three years - - - - - - - - 8.4% -

W13 Post Code Area

Area Detached Sales Semi-Det Sales Terrace Sales Flat/
Mais
Sales Total
Ave
Total Sales
W13 0 0 0 472500 4 399495 10 196365 13 312507 27
W13 8 1142000 3 829357 7 526658 6 265850 7 619669 23
W13 9 0 0 490243 8 429766 27 230817 11 392709 46
Total 1142000 3 611444 19 436246 43 224280 31 424528 96
Change in Quarter - - 3.6% -5.0% 4.7% 19.4% -4.9% 0.0% 8.3% 10.3%
Change in Year - - 45.3% 171.4% 21.0% 95.5% 20.8% 72.2% 40.3% 104.3%
Change in Three Years - - - - - - - - 30.7% -

 

Data in this report is subject to crown copyright protection.

February 9, 2010