Luxury Homes Lead Putney Property Rise

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SW15 prices up by over 20% over the last year

The latest data from the Land Registry are showing that prices in the Putney area rose by 21.7% over 2006. The average rose home now costs £449,853.

The market is slightly off its peak which was reached in the third quarter of 2006. In the last quarter of the year prices fell slightly.

The main factor in the rise is a big increase in price and volumes at the top end of the market. Two homes over £3,000,000 changed hands in the latest quarter bring to eight the number that have reached that mark. They were in Gwendolen Avenue and St. Simon's Avenue. The house on Gwendolen Avenue was the second most expensive property to change hands in Putney.

If you take out the transactions at the top end, the market appears to have been much more subdued. Terraced houses rose by just 11.1% and flats were up by only 4.7% Over the last ten years however flats have been the best performing segment of the Putney property market.

Putney prices have massively outperformed London and the rest of the UK in 2006. The average price of a home in England and Wales is now £173,717 up by 7.8% over the year. London prices have been increasing more rapidly rising by 10.4% over the same period.

Volumes were down on the previous quarter which was one of the busiest on record. However, the surge in sales was due to new flat developments coming to the market. The numbers show that transactions are higher than the same period last year and more sales are likely to be reported for the October to January quarter.


Putney Property Prices - October - December 2006

Area	Detached		Semi-Detached		Terraced		Flat/Maisonette		Overall
	Av Price £	Sales	Av Price £	Sales	Av Price £	Sales	Av Price £	Sales	Av Price £	Sales
SW15 1	0	0	1101702	5	667915	29	338454	35	532230	69
SW15 2	1113200	5	0	0	455320	11	404800	60	458717	76
SW15 3	619166	3	421790	5	565056	8	315026	70	355101	86
SW15 4	0	0	0	0	426666	6	155326	21	215623	27
SW15 5	1188000	6	481750	6	309097	18	233287	16	419887	46
SW15 6	2379166	6	1365833	6	482312	8	283089	47	591547	67
Overall	1441325	20	850134	22	511009	80	315202	249	449853	371
Last quarter	-6.5%	-35.5%	23.5%	-12.0%	-7.1%	-12.1%	-4.0%	-37.0%	-0.4%	-31.5%
Last year	25.5%	100.0%	24.0%	4.8%	10.7%	11.1%	12.1%	4.6%	21.7%	8.8%
Last three years	26.4%	150.0%	43.6%	46.7%	36.0%	-9.1%	17.8%	-17.5%	40.9%	-10.2%
Last five years	71.6%	42.9%	30.9%	29.4%	51.7%	29.0%	61.9%	-2.0%	67.6%	6.9%
Last ten years	195.5%	150.0%	189.0%	-24.1%	194.7%	2.6%	249.6%	12.7%	229.4%	10.4%

 

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.

April 11, 2007