House Sales in Ealing Still on The Up

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But W13 is currently doing better than W5

Property prices in Ealing are still ahead of the national average according to new figures. Prices in both W5 and W13 were up in the latest quarterly data from the Land Registry.

West Ealing (W13) was the best performing recently with a significant increase in the volume of sales compared to depressed levels last year. In the last quarter, 90 sales were recorded - a big jump of 130.8% in the year. The average cost for a house here is around £414,000 a change of nearly 22% on the year.

In W5 more properties changed hands (124) at an average price of £418,000 but the increase was much slower at just over 6% over the year.

Over the last three years the average property price in Ealing is more or less unchanged.

London overall experienced an increase of 12.2 per cent in June compared to last year. In comparison to this, the figure for England and Wales as a whole was currently 8.4 per cent. London’s house prices are now around the same levels they were three years ago.

London's monthly change brings the average house price there to £338,027, while the average for England and Wales is £166,072.

Looking ahead some analysts are not optimistic that the current price strength will be maintained.

Miles Shipside, commercial director of Rightmove, comments: “The number of new mortgages being approved each month is less than half the number of new sellers, with the imbalance being exacerbated by the increase of nearly 50% in the number of properties coming to market compared to a year ago. More aggressive pricing is now the order of the day, which means that conditions are ripe for a strong buyers’ market in the second half of 2010. This is likely to see the average price gains of 7% for the first half of the year wiped out by year-end, in line with Rightmove’s original forecast for the year of no net change in prices”.

Ealing Property Prices - April - June 2010

W5 Post Code Area

Area	Detached	Sales	Semi-Det	Sales	Terraced	Sales	Flat/Mais	Sales	Total Ave	Total Sales
W5 1	0	0	551800	5	480979	12	256476	13	395498	30
W5 2	0	0	0	0	0	0	293719	18	293719	18
W5 3	1116562	8	741666	3	0	0	267950	12	624908	23
W5 4	0	0	527416	6	436242	17	272272	20	372699	43
W5 5	0	0	642500	4	0	0	289158	6	430495	10
Total	1116562	8	595471	18	454754	29	275608	69	418192	124
Change in Quarter	-	-	-3.2%	-14.3%	-3.5%	11.5%	-5.9%	19.0%	4.1%	18.1%
Change in year	-	-	1.8%	-25.0%	-3.5%	61.1%	8.4%	60.5%	6.3%	45.9%
Change in three years	-	-	13.2%	-30.8%	-3.2%	-55.4%	-4.6%	-42.0%	-0.3%	-44.4%

W13 Post Code Area

Area	Semi-Det	Sales	Terraced	Sales	Flat/Mais	Sales	Total Ave	Total Sales
W13 0	469916	6	440000	5	235062	8	363157	19
W13 8	810993	8	0	0	256035	14	457838	22
W13 9	490894	8	458479	29	259958	12	415154	49
Total	601572	22	455762	34	252485	34	414611	90
Change in Quarter	-4.0%	144.4%	12.7%	0.0%	7.5%	0.0%	16.6%	16.9%
Change in Year	61.8%	214.3%	25.9%	36.0%	8.6%	385.7%	21.8%	130.8%
Change in Three Years	23.9%	83.3%	8.9%	0.0%	-0.3%	88.9%	-0.5%	34.3%

 

 

Data in this report is subject to crown copyright protection.

August 26, 2010