Prices drift lower despite strong sales of new build homes
Chiswick property sale prices have dipped below the £1 million average in September according to the Land Registry.
There have been 61 sales reported in the W4 post code area during the month at an average of £888,685. The previous two months had seen the average over the million pound mark and for the third quarter of 2014 as a whole prices were up by 19.8% to a new record high.
Of the sales, four exceeded £2 million and 21 went for over £1 million. The most expensive property sale in the period was a house on Wavendon Avenue which changed hands for £2,390,000.
The month saw the start of the marketing of Noble House in King's Place which is just off Chiswick High Road. Six flats have been sold so far with four of them going for over £1,000,000.
London property prices generally are up by 18.4% to £460,521 in the year to end September according to the Land Registry although they are slightly down from the level seen at the end of August. The a average house price in England and Wales is now £177,299 compared with the peak of £181,324 in November 2007. This is a rise of 7.2% compared with the same month last year.
The most up-to-date figures available show that during July 2014 the number of completed house sales in England & Wales increased by 7 per cent to 79,214 compared with 73,749 in July 2013. The number of properties sold in England and Wales for over £1 million in July 2014 increased by 19 per cent to 1,439 from 1,207 in July 2013.
The Royal Institution of Chartered Surveyors (RICS) are striking a cautious note pointing out that demand for property in London has been down for six months in a row. Prices are also falling in more recent months according to their survey which covers sales up to the end of October.
London is experiencing a fall in buyer demand with 62% more chartered surveyors reporting a fall over the last month. Significantly, a little more stock is now coming onto the market with 15% more chartered surveyors seeing a rise in new instructions up from 3% more last month. The RICS say that this points to the market in London moving towards a more sustainable position and they remain modestly positive on a twelve month view.
In London, tenant demand was broadly flat over the last quarter. Despite this, rents are still expected to continue to move higher albeit by a little less than 2 per cent over the next twelve months.
Simon Rubinsohn, RICS Chief Economist, said, 'The flatter trend in the market is partly a reflection of potential buyers becoming a little more cautious about making a purchase as more stringent lending criteria has made it harder to access mortgage finance. An increasing awareness of the approaching general election also appears to be contributing to the softer market if the responses to the latest survey are anything to go by. However, with new instructions still flat at a headline level as has been the case for most of the last year it seems implausible that the dip in demand will result in very much of a decline in house prices.'
If you want to receive regular updates on the Chiswick property market with informed comment from the best local agents sign up for our weekly e-mail newsletter by .
ChiswickW4.com is the only place that you will find detailed analysis of the Chiswick property market. Over 10,000 property details are viewed on the site each month.
September 2014 Property Sales in Chiswick
| Deed Date | Address | Price (£) |
|---|---|---|
| 30/09/2014 | Flat 7, Noble House, Kings Place, Chiswick High Road, W4 4BA | 1,240,000 |
| 30/09/2014 | Flat 2, Noble House, Kings Place, Chiswick High Road, W4 4BA | 1,200,000 |
| 30/09/2014 | Flat 13, Noble House, Kings Place, Chiswick High Road, W4 4BA | 1,000,000 |
| 30/09/2014 | Flat 14, Noble House, Kings Place, Chiswick High Road, W4 4BA | 1,500,000 |
| 30/09/2014 | Flat 9, Noble House, Kings Place, Chiswick High Road, W4 4BA | 870,000 |
| 30/09/2014 | Flat 4, Noble House, Kings Place, Chiswick High Road, W4 4BA | 870,000 |
| 30/09/2014 | 7 Eyot Green, W4 2PT | 550,000 |
| 29/09/2014 | 47 Upham Park Road, W4 1PQ | 1,165,000 |
| 29/09/2014 | 5 Brackley Terrace, W4 2HJ | 1,025,000 |
| 29/09/2014 | 75 Thames Village, Hartington Road, W4 3UF | 650,000 |
| 29/09/2014 | 8 Hamilton Road, W4 1AL | 1,325,000 |
| 26/09/2014 | 64 Burlington Lane, W4 2RR | 945,000 |
| 26/09/2014 | 32 Strand On The Green, W4 3PH | 1,750,000 |
| 26/09/2014 | 8 Grove Park Terrace, W4 3QG | 1,240,000 |
| 26/09/2014 | 14 Riverview Road, W4 3QH | 985,000 |
| 26/09/2014 | 17, Churchdale Court, Harvard Road, W4 4EE | 450,000 |
| 26/09/2014 | 4 Beaulieu Place, W4 5SY | 370,000 |
| 25/09/2014 | 48, Heathfield Court, Heathfield Terrace, W4 4LR | 500,000 |
| 24/09/2014 | Flat 37, 2b Bollo Lane, W4 5LE | 175,500 |
| 23/09/2014 | 62 Fielding Road, W4 1HL | 1,475,000 |
| 22/09/2014 | 21 Bath Road, W4 1LJ | 1,823,000 |
| 22/09/2014 | 32 Grosvenor Road, W4 4EG | 2,200,000 |
| 22/09/2014 | 9 Silver Crescent, W4 5SF | 1,220,000 |
| 19/09/2014 | First Floor Flat, 68 Bollo Lane, W4 5LT | 699,950 |
| 19/09/2014 | Flat 3, 71 Beaumont Road, W4 5AL | 835,000 |
| 19/09/2014 | 26 Stile Hall Gardens, W4 3BU | 535,000 |
| 19/09/2014 | 11a Burnaby Gardens, W4 3DS | 380,000 |
| 19/09/2014 | 1, Whitehall Court, Whitehall Park Road, W4 3ND | 260,000 |
| 18/09/2014 | Flat 9, Homecross House, 21 Fishers Lane, W4 1YA | 275,000 |
| 18/09/2014 | 42 Ellesmere Road, W4 4QH | 840,000 |
| 17/09/2014 | D, 40 Harvard Road, W4 4EA | 370,000 |
| 17/09/2014 | Flat 9, St. Andrews Court, 17 Bolton Road, W4 3TE | 460,000 |
| 15/09/2014 | 8, Belgrave Lodge, 36 Wellesley Road, W4 4BN | 220,000 |
| 15/09/2014 | 18 Hawkshead Road, W4 1AD | 960,000 |
| 12/09/2014 | Flat 3, 19 Hartington Road, W4 3TL | 481,000 |
| 12/09/2014 | 1, Churchdale Court, Harvard Road, W4 4EE | 443,850 |
| 12/09/2014 | Flat 7, Chiswick Green Studios, 1 Evershed Walk, W4 5BW | 1,764,000 |
| 12/09/2014 | 37 Ivy Crescent, W4 5NG | 1,000,000 |
| 11/09/2014 | Flat 27, Dewsbury Court 44-66, Chiswick Road, W4 5RA | 271,600 |
| 10/09/2014 | 1 Langham Place, W4 2QL | 825,000 |
| 10/09/2014 | 20 Corney Road, W4 2RA | 899,950 |
| 10/09/2014 | 139 Chiswick Village, W4 3DQ | 296,000 |
| 10/09/2014 | Flat 1, 8 Oxford Road North, W4 4DN | 625,000 |
| 08/09/2014 | 28 Elmwood Road, W4 3DZ | 1,475,000 |
| 08/09/2014 | 97 Park Road, W4 3ER | 1,250,000 |
| 05/09/2014 | Flat 2, 3 Chiswick High Road, W4 2ND | 466,500 |
| 05/09/2014 | 53 Duke Road, W4 2BA | 748,000 |
| 05/09/2014 | 13 Annandale Road, W4 2HE | 455,500 |
| 05/09/2014 | 74 Chiswick Lane, W4 2LA | 749,950 |
| 05/09/2014 | 2, Bryher House, Walpole Gardens, W4 4HG | 468,000 |
| 05/09/2014 | 20 Hadley Gardens, W4 4NX | 2,300,000 |
| 05/09/2014 | 1 Kingswood Road, W4 5EU | 1,151,000 |
| 05/09/2014 | 25 Antrobus Road, W4 5HY | 999,999 |
| 05/09/2014 | 49 Antrobus Road, W4 5HZ | 920,000 |
| 05/09/2014 | 173 Wilkinson Way, W4 5XF | 275,000 |
| 04/09/2014 | Flat 404, 560 Chiswick High Road, W4 5RR | 634,000 |
| 03/09/2014 | 11 Upham Park Road, W4 1PQ | 712,000 |
| 03/09/2014 | 75a Dukes Avenue, W4 2AQ | 900,000 |
| 03/09/2014 | 14 Ashbourne Grove, W4 2JH | 1,050,000 |
| 03/09/2014 | 74 Wavendon Avenue, W4 4NS | 2,390,000 |
| 01/09/2014 | Flat 60, Homecross House, 21 Fishers Lane, W4 1YA | 295,000 |
Property sales from August 2014
If you are a member of the site who has recently moved into one of these properties and do not wish to have the details displayed here just let us know and we will remove them.
Source: Land Registry
May 6, 2015