No collapse in values but volumes are miserable
The latest property figures released for the Ealing area make grim reading for local estate agents. Although prices are not in free fall, volumes are at the lowest level since the Land Registry started issuing data.
The average property in the W5 post code area now stands at £410,406 down 8.2% from a year ago according to the latest official figures. This was an increase on the previous quarter. In W13 prices are up by 4.1% to £408,659 compared to the same period last year. Whereas no detatched houses changed hands in W5 there continued to be activity in this sector in W13.
The really striking development is the collapse of volumes in the area. In both W5 and W13 there was a decrease of over 60% Many local estate agents are rumoured to be under serious pressure and closures appear likely.
The average house price in England and Wales stands at £180,781 in June, which is a decrease from last month. House prices in these two countries have fallen for ten consecutive months.
The average property price in London is currently £345,136, which is up 2.5% over the last year although the level has been falling for the last 5 months.
The numbers are subject to revision as usually some properties are added late to the Land Registry's database.
Ealing Property Prices to July - September 2008
W5 Post Code Area
| Area | Semi-Det | Sales | Terraced | Sales | Flat/ Mais |
Sales | Total Ave | Total Sales |
|---|---|---|---|---|---|---|---|---|
| W5 1 | 625000 | 7 | 632772 | 9 | 244666 | 3 | 568629 | 19 |
| W5 2 | 0 | 0 | 0 | 0 | 369696 | 18 | 369696 | 18 |
| W5 3 | 0 | 0 | 0 | 0 | 290745 | 10 | 290745 | 10 |
| W5 4 | 494600 | 5 | 512125 | 8 | 269995 | 11 | 397498 | 24 |
| W5 5 | 0 | 0 | 0 | 0 | 257000 | 5 | 257000 | 5 |
| Total | 570667 | 12 | 575997 | 17 | 309594 | 47 | 410406 | 76 |
| Change in Quarter | -18.8% | 33.3% | 16.8% | -45.2% | 8.8% | -20.3% | 5.8% | -23.2% |
| Change in year | -9.2% | -65.7% | 15.4% | -69.1% | 6.9% | -65.9% | -8.2% | -68.7% |
W13 Post Code Area
| Area | Detached | Sales | Semi-Det | Sales | Terrace | Sales | Flat/ Mais |
Sales | Total Ave | Total Sales |
|---|---|---|---|---|---|---|---|---|---|---|
| W13 0 | 0 | 0 | 0 | 0 | 278500 | 4 | 228404 | 11 | 241763 | 15 |
| W13 8 | 1365000 | 4 | 896666 | 3 | 442650 | 3 | 296357 | 7 | 679556 | 17 |
| W13 9 | 0 | 0 | 606666 | 3 | 406366 | 15 | 252105 | 17 | 348608 | 35 |
| Total | 1365000 | 4 | 751666 | 6 | 388065 | 22 | 253507 | 35 | 408659 | 67 |
| Change in Quarter | - | - | 40.7% | -68.4% | -8.6% | -24.1% | -1.6% | -14.6% | 10.1% | -24.7% |
| Change in Year | - | - | 35.5% | -80.0% | -12.7% | -62.7% | -8.9% | -61.1% | 4.2% | -63.2% |
Data in this report is subject to crown copyright protection.
March 3, 2009