Chelsea To Chiswick House 'Stampede'

Chelsea To Chiswick House 'Stampede'

Survey claims local prices will rise by fifteen per cent

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House prices in Chiswick are set to rise 15% over the next few years because of a "stampede" from Chelsea to leafy W4, according to the Evening Standard.

The report says that wealthy families who are leaving prime areas such as Kensington and Chelsea to buy larger homes in south-west London will push up prices there by 15 per cent over the next two years. More than half the buyers from Kensington and Chelsea are settling in leafy ' villages' such as Chiswick instead of moving outside London.

Putney, Barnes, Kew, and Fulham are also favourite places to relocate from the city, according to the research (from Chesterton Humberts).

The increase is slightly above the figures for London which saw a 14.9% rise in 2013 in the capital.

Local estate agents in Chiswick have been commenting on this trend for several months as house buyers who would traditionally have purchased in Notting Hill or Kensington have been making their way to Chiswick. A lack of stock of medium or large family houses has resulted in inflated prices in Chiswick with many sales going to sealed bids last year.

The latest annual increase in prices across the country is the biggest jump seen since June 2010. Every region across the UK saw prices increase year-on-year, ranging from a 14.9% annual increase in London to a 1.9% uplift in the North.

Prices in the capital are now 14% above their annual peak, with the price of the typical home having reached £345,186, according to the latest figures quoted by the Evening Standard.

Across the UK, they rose by 1.4% month-on-month in December to reach £175,826 on average, although they remain around 5% below all-time highs recorded in late 2007.

January 4, 2014