Brentford Property Sales in June 2010

Stronger demand provides some relief for developers

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The latest figures from the Land Registry will provide relief to local property developers and estate agents. After a prolonged period in the doldrums there is finally some evidence that demand is picking up although it remains unclear whether this will be sufficient to absorb the massive supply due to come onto the market. During June the average price of a TW8 property was £342,211.

Flat sales were up by 247% in second quarter compared to the same period last year. It is worth noting however that the absolute number of flats sold remains quite low in comparison to the size of some of the local developments. 59 units were sold in the three month period with the top selling blocks being Golden Mile House and Gilbert House.

Prices have risen slightly with the average TW8 property up by 7.4% over the last year. This may have more to do with the quality of units being sold than a general rise in prices.

Over the longer term local houses have done relatively well in price terms, up by 25.8% over the last five years and more than doubling in value over ten. Flats on the other hand have fallen in value over the last five years and are up by just 30% over ten.

London overall experienced an increase of 12.2 per cent in June compared to last year. In comparison to this, the figure for England and Wales as a whole was 8.4 per cent. London’s house prices are now around the same levels they were three years ago.

London's monthly change brings the average house price there to £338,027, while the average for England and Wales is £166,072.

Looking ahead some analysts are not optimistic that the current price strength will be maintained.

Miles Shipside, commercial director of Rightmove, comments: “The number of new mortgages being approved each month is less than half the number of new sellers, with the imbalance being exacerbated by the increase of nearly 50% in the number of properties coming to market compared to a year ago. More aggressive pricing is now the order of the day, which means that conditions are ripe for a strong buyers’ market in the second half of 2010. This is likely to see the average price gains of 7% for the first half of the year wiped out by year-end, in line with Rightmove’s original forecast for the year of no net change in prices”.

The latest reported sales are given in the table below.

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.

 

Brentford Property Prices - June 2010

Address
Price (£)
Deed Date
Golden Mile House, Apartment 402, Clayponds Lane, TW8 0GU
319,000
30/06/2010
13, Field Lane, TW8 8NA
199,000
30/06/2010
Trico House, Apartment 416, Ealing Road, TW8 0AU
315,000
29/06/2010
Golden Mile House, Apartment 401, Clayponds Lane, TW8 0GU
250,000
29/06/2010
36, Flat 2, Whitestile Road, TW8 9NJ
231,000
28/06/2010
7, Market Terrace, TW8 0NQ
189,000
25/06/2010
1, Monmouth Grove, TW8 9QN
197,500
25/06/2010
Golden Mile House, Apartment 503, Clayponds Lane, TW8 0GU
380,000
24/06/2010
117, Holland Gardens, TW8 0BH
535,000
22/06/2010
4, Flat 2, Glenhurst Road, TW8 0QS
242,500
21/06/2010
Golden Mile House, Apartment 201, Clayponds Lane, TW8 0GU
237,500
18/06/2010
Golden Mile House, Apartment 404, Clayponds Lane, TW8 0GU
282,000
18/06/2010
Bowles Hall, 131 - 141, Flat 12, Ealing Road, TW8 0LJ
129,000
18/06/2010
Golden Mile House, Apartment G06, Clayponds Lane, TW8 0GU
325,000
18/06/2010
128, Boston Manor Road, TW8 9LN
440,000
18/06/2010
38, The Ride, TW8 9LA
410,000
15/06/2010
Golden Mile House, Apartment 103, Clayponds Lane, TW8 0GU
299,000
11/06/2010
16, New Road, TW8 0NX
280,000
11/06/2010
64, Brook Road South, TW8 0PH
364,000
11/06/2010
Golden Mile House, Apartment 502, Clayponds Lane, TW8 0GU
356,250
10/06/2010
Golden Mile House, Apartment 606, Clayponds Lane, TW8 0GU
210,000
09/06/2010
Golden Mile House, Apartment 102, Clayponds Lane, TW8 0GU
307,000
09/06/2010
34, Holland Gardens, TW8 0BE
325,000
04/06/2010
Regatta Point, 38, Flat 56, Kew Bridge Road, TW8 0EB
1,200,000
04/06/2010
25, Avenue Road, TW8 9NS
465,000
04/06/2010
13, Holland Gardens, TW8 0BE
410,000
01/06/2010

 

January 14, 2011