Party Over for Putney Property?


Bankers' bonuses fail to provide boost in house prices

The latest official figures from the Land Registry are suggesting that Putney property prices have started to fall.

After reaching record levels in the previous quarter the average price of a home in SW15 fell to £511504 in the three months to the end of 2010. This is down by 5.7% on the previous quarter but still 4.0% up on the same period last year.

A flood of buying due to high bonuses from the City has failed to materialise and, in fact, the weakest sector of the market relatively was the top end with far fewer larger homes selling compared to previous periods. On the other hand flats, which had lagged the price increases in the area, saw an increase in price and sales during the period.

London as a whole remains by far and away the strongest area in the country in price terms with home values rising by 6.2% in December compared to the same month in 2009. The average London property now costs £342,325. For England and Wales as a whole property prices rose by 1.5% with many areas of the north seeing falling values over the year. The average home price in the U.K. is now £163,814.

 

 




Putney Property Prices (October - December 2010)

Area Detached Sales Semi-Det Sales Terrace Sales Flat/
Mais
Sales Total Ave Total Sales
SW15 1 0 0 1099490 5 1062033 15 369575 22 703776 42
SW15 2 0 0 662666 3 707666 12 376308 37 469296 52
SW15 3 673333 3 0 0 0 0 323160 29 355989 32
SW15 4 0 0 0 0 0 0 148333 3 148333 3
SW15 5 0 0 422166 3 589696 24 278277 9 497880 36
SW15 6 0 0 1543987 4 594500 8 364428 28 528398 40
Total 673333 3 995193 15 734427 59 348275 128 511504 205
Last quarter -62.4% -57.1% -15.3% -40.0% 13.2% -3.3% 2.1% -16.9% -5.7% -17.0%
Last year -49.4% -70.0% -31.1% 114.3% 9.0% 20.4% 7.1% -11.1% 4.0% -2.4%
Last three years -7.8% 0.0% -20.4% 25.0% 10.2% 11.3% 1.3% -31.2% 11.6% -19.3%
Last five years -41.4% -70.0% 45.2% -28.6% 59.1% -18.1% 23.9% -46.2% 38.4% -39.9%

 

Copyright notice: All figures in this article are based on data released by the Land Registry. The numbers are derived from analysis performed by PutneySW15.com. Any use of these numbers should jointly attribute the Land Registry and PutneySW15.com.

February 15, 2011