Property transactions down by over 60%
The latest property figures released for the Ealing area are showing a sharp fall in values for the area,
The average property in the W5 post code area now stands at £376,981 down 18.7% from a year ago according to the latest official figures.
In W13 prices are down by 9.6% to £302,612 compared to the same period last year. They fell by over 25% compared with the last quarter but this figure was artificially boosted by sales of higher end properties.
Volumes continue to be at historic lows. Only 122 properties changed hands in the Ealing area during the quarter meaning that local estate agents continue to be under pressure. Sales volumes are down by over 60% in W5 and 70% in W13.
The data for January for the country as a whole shows an
annual house price change of -15.1%. This marks the seventeenth month in a row where the annual rate of change has fallen. This contrasts with the 21 months of uninterrupted increases in the annual rate of change between December 2005 and August 2007. Prices in London were down by 14.1% over the year.
The average property in England and Wales is currently worth £156,753 and the rate of monthly price change stands at -0.8% Sales volumes nationally have continued to decrease, with the number of sales averaging 41,014 per month in the months August to November 2008. In the same period in 2007, the average was £106,495.
The numbers are subject to revision as usually some properties are added late to the Land Registry's database.
Ealing Property Prices to October - December 2008
W5 Post Code Area
| Area | Detached | Sales | Semi-Det | Sales | Terraced | Sales | Flat/ Mais |
Sales | Total Ave | Total Sales |
| W5 1 | 466666 | 3 | 584785 | 7 | 456083 | 6 | 230571 | 7 | 427999 | 23 |
| W5 2 | 0 | 0 | 0 | 0 | 0 | 0 | 257510 | 12 | 257510 | 12 |
| W5 3 | 0 | 0 | 657750 | 4 | 0 | 0 | 297214 | 7 | 428318 | 11 |
| W5 4 | 0 | 0 | 444250 | 4 | 401466 | 15 | 230800 | 5 | 373041 | 24 |
| W5 5 | 0 | 0 | 0 | 0 | 0 | 0 | 335000 | 5 | 335000 | 5 |
| Total | 466666 | 3 | 566766 | 15 | 417071 | 21 | 267045 | 36 | 376981 | 75 |
| Change in Quarter | - | - | -0.7% | 25.0% | -27.6% | 23.5% | -13.7% | -23.4% | -8.1% | -1.3% |
| Change in year | - | - | -15.8% | -42.3% | -16.9% | -57.1% | -14.0% | -69.0% | -18.7% | -63.1% |
W13 Post Code Area
| Area | Semi-Det | Sales | Terraced | Sales | Flat/ Mais |
Sales | Total Ave | Total Sales |
|---|---|---|---|---|---|---|---|---|
| W13 0 | 0 | 0 | 350428 | 7 | 171643 | 5 | 275934 | 12 |
| W13 8 | 0 | 0 | 353333 | 3 | 185541 | 6 | 241472 | 9 |
| W13 9 | 420714 | 7 | 368486 | 12 | 195928 | 7 | 336089 | 26 |
| Total | 420714 | 7 | 360674 | 22 | 185720 | 18 | 302612 | 47 |
| Change in Quarter | -44.0% | 16.7% | -7.1% | 0.0% | -26.7% | -48.6% | -25.9% | -29.9% |
| Change in Year | -25.3% | -41.7% | -19.8% | -33.3% | -34.3% | -85.7% | -9.6% | -72.5% |
Data in this report is subject to crown copyright protection.
March 3, 2009