Recovery in volume and prices proves shortlived
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The average price for a property in Brentford has dipped below £300,000 according to the latest official sales figures.
There were 56 sales in TW8 reported to the Land Registry in the fourth quarter of 2011 at an average price of £295,636. The previous quarter they had risen above £300,000 for the first time since 2008.
Flat prices fell on average and with just 39 sold during the three month period a substantial inventory overhang is likely to remain. Over the last decade the average flat price in Brentford has risen by just 20%.
The December data from Land Registry's flagship House Price Index shows an annual price decrease of 1.3% which takes the average property value in England and Wales to £160,384.
The only region in England and Wales to experience an increase in its average property value over the last 12 months is London with a movement of 2.8% to £345,298. The North East experienced the greatest annual price fall with a decrease of 7.1% and the most significant monthly price fall with a decrease of 1.9%.
The most up-to-date figures available show that, during October 2011, the number of completed house sales in England and Wales decreased by 6% to 55,309 compared to 58,634 in October 2010. The number of properties sold in England and Wales for over £1 million in October 2011 decreased by 10% to 525 from 582 in October 2010.
Brentford Property Prices - October - December 2011
| Area | Semi-Det | Sales | Terrace | Sales | Flat/ Mais |
Sales | Total Ave. | Total Sales |
|---|---|---|---|---|---|---|---|---|
| TW8 0 | 281250 | 4 | 345999 | 5 | 274898 | 27 | 285479 | 36 |
| TW8 8 | 0 | 0 | 0 | 0 | 277900 | 6 | 277900 | 6 |
| TW8 9 | 395166 | 3 | 392500 | 5 | 243833 | 6 | 329357 | 14 |
| Total | 330071 | 7 | 369250 | 10 | 270581 | 39 | 295636 | 56 |
| Change in Quarter | -23.3% | 40.0% | 7.9% | -47.4% | -3.7% | -17.0% | -4.0% | -21.1% |
| Change in year | - | - | 12.9% | 0.0% | 11.0% | -17.0% | 14.4% | -1.8% |
| Change in 3 years | 3.5% | 40.0% | 36.3% | 233.3% | 18.9% | 62.5% | 20.2% | 75.0% |
| Change in 5 years | -13.3% | 0.0% | 21.5% | -58.3% | 10.2% | -20.4% | 7.6% | -30.0% |
| Change in 10 years | 64.6% | -41.7% | 92.9% | -65.5% | 20.6% | -42.6% | 38.8% | -48.6% |
Brentford Property Prices - July - September 2011
| Area | Semi-Det | Sales | Terrace | Sales | Flat/ Mais |
Sales | Total Ave. | Total Sales |
|---|---|---|---|---|---|---|---|---|
| TW8 0 | 0 | 0 | 347357 | 7 | 274394 | 29 | 288581 | 36 |
| TW8 8 | 0 | 0 | 288333 | 3 | 341768 | 11 | 330318 | 14 |
| TW8 9 | 430599 | 5 | 356444 | 9 | 212714 | 7 | 326190 | 21 |
| Total | 430599 | 5 | 342342 | 19 | 280976 | 47 | 307935 | 71 |
| Change in Quarter | 23.9% | 0.0% | -5.5% | 171.4% | 17.3% | 0.0% | 17.0% | 20.3% |
| Change in year | - | - | -4.6% | 11.8% | 17.1% | 23.7% | 11.3% | 29.1% |
| Change in 3 years | - | - | -1.0% | 171.4% | 4.8% | 30.6% | 9.7% | 65.1% |
| Change in 5 years | 57.5% | -58.3% | 8.8% | -50.0% | 13.2% | -23.0% | 12.5% | -36.0% |
| Change in 10 years | 114.8% | -58.3% | 78.9% | -34.5% | 25.3% | -30.9% | 44.6% | -34.9% |
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
April 23, 2012
