2006 proves to be a good vintage for local homeowners
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The latest figures show from the Land Registry show that 2006 was a vintage year for Chiswick property with prices on average up by 29.8%
The market paused for breath in the final quarter with values remaining static but the average price of a Chiswick home remains at a very high £518,730.
The headline figure has been inflated by a sharp increase in activity at the top end of the market. New records were set on more than one occasion for the highest ever property sale during the year culminating in Walpole House changing hands for over £7 million. The underlying rise in the market is perhaps better gauged by looking at the increase in flat and terraced house prices respectively. These two types of home account for the majority of sales in Chiswick and rose by 18.0% and 14.1%
Last year's rises come after two relatively fallow years. The average price of Chiswick property actually fell marginally in 2005 and was only up 4.8% in 2004.
Chiswick 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.
| Property Price Changes in W4 | |||
| - | Flats | Terraced | All |
| Last 12 months | 18.0% | 14.1% | 29.8% |
| Last Quarter | 9.7% | 0.1% | -0.6% |
| Last three years | 29.7% | 27.5% | 34.9% |
| Last five years | 51.9% | 52.9% | 57.5% |
| Last ten years | 226.2% | 222.5% | 242.3% |
The Bedford Park area (W4 1) seems to be moving ahead quite strongly with the average property price there now over £680,000. Although there has been a lot more activity in larger properties in the area the price rises appear to be more broadly based with terraced properties in Bedford Park now averaging £630,000.
The numbers quoted are based on Land Registry data from July - September 2006. The numbers are subject to revision as usually some properties are added late to the Land Registry's database.
W4 Property Prices - October - December 2006
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Detached | Semi-Detached | Terraced | Flat/Maisonette | Overall | ||||||
| Av Price £ | Sales | Av Price £ | Sales | Av Price £ | Sales | Av Price £ | Sales | Av Price £ | Sales | ||
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0 | 0 | 1179374 | 16 | 639569 | 21 | 323897 | 20 | 680331 | 57 | |
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0 | 0 | 914825 | 6 | 608532 | 11 | 428389 | 19 | 564505 | 36 | |
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1300000 | 6 | 739711 | 10 | 542910 | 24 | 311856 | 33 | 527646 | 73 | |
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0 | 0 | 0 | 0 | 0 | 0 | 299013 | 30 | 299013 | 30 | |
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0 | 0 | 505390 | 5 | 538148 | 23 | 297968 | 24 | 424145 | 52 | |
| Overall | - | 6 |
926567 |
37 |
576355 |
79 |
325637 |
126 |
518730 |
248 |
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Roughly speaking the post code sector areas are as follows:
1 - Bedford Park and the north side of the High Road
2 - The south side of the eastern end of the High Rd down to the river at Corney Reach
3 - The Grove Park area and over to Strand on the Green
4 - The west of Chiswick between the A4 and Chiswick High Rd - (a high concentration of flats)
5 - The north west of Chiswick - Acton Green mainly
December 15, 2008