Average home now worth over £300,000

Brentford property prices have moved upwards in the latest quarter and the price of the average home in the area now tops £300,000.

After a period in the doldrums, it was flat prices that led the market forward recently. The average flat now costs £282,000 up by 13.6% on last year. This compares with a 10.0% rise in the market as a whole.

Over the last three years property in Brentford is up on average by 26.8% although on a five year comparison this falls to 15.8%

No detached homes and only three semi-detached properties changed hands during the quarter. According to official figures there are 141 detached houses in Brentford and over 1,000 semi-detached houses. Even allowing for the proportion of these properties that are not privately owned the lack of turnover in this kind of home is extraordinary.

This rise continues to be faster than the rest of the country which saw average prices increase by 8.7% to £183,896. London continues to outperform with prices rising even faster than Brentford, up by 16.5% to £354,372.

Perhaps stock market volatility and rising oil prices may stop further rises before the end of the year but there is little sign of a price correction at the moment.

The numbers quoted are based on Land Registry data from July - September 2007. The numbers are subject to revision as there are usually some properties that are added late to the Land Registry's database.

Brentford Property Prices, July - September 2007

Where do I live? Brentford TW8 postcodes are divided into three sectors, TW8 0xx, TW8 8xx and TW8 9xx. Broadly speaking, TW8 0xx covers areas east of Boston Manor Road, TW8 8xx goes west of Boston Manor Road, whilst TW8 9xx covers the areas to the north of the A4.

Source: Land registry

December 4, 2007