Land Registry figures show market fall over last quarter

Latest figures from the Land Registry show there has been a slight fall in the market over the last quarter.

Whilst Chiswick property is still well up on the same time last year with the average home now costing £527,770, March to June 2007 has seen a fall of -1.7% in price. The main reason for this is that fewer properties in the million pound plus bracket sold compared to the first quarter of the year with Bedford Park in particular seeing a fall in activity. However, because the number of sales involved is small, it is difficult to extrapolate a general trend in this section of the market.

Although £1 million plus properties fared poorly, Bedford Park terraced houses continued to rise in value and now cost close to £750,000 on average and flats in that area have now broken the £400,000 barrier.

Rises in interest rates may have had some impact, but if this is the case, it appears to have only been to stop the rise rather than cause a significant fall.

The numbers quoted are based on Land Registry data from March to June 2007.

The numbers are subject to revision as usually some properties are added late to the Land Registry's database.

W4 Property Prices - March - June 2007

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

February 13, 2008