Surge in flat sales brings life back to market for local homes
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A huge increase in the number of properties sold in the Brentford area has seen the average price in the area rise to an new all-time high.
According to figures from the Land Registry, the average price of the 89 properties sold in the TW8 post code area during the second quarter of this year was £374,192. This is the highest level since records began.
The amount of sales doubled from the last three months and the increase seems to be concentrated in developments east of the Boston Manor Road.
Elsewhere sales levels seem to have not risen as rapidly, so it remains to be seen whether this represents a genuine turnaround for local property or just a one off boost from the prime flats in a new development being sold off in large numbers.
London has been the best performing property market over the last year according to the Land Registry's House Price index. Prices were up by 6.3% in the year to June.
For England and Wales as a whole the House Price Index shows an annual price increase of 0.9% which takes the average property value in England and Wales to £161,777.
A list of properties sold in the Brentford area will appear in a forthcoming edition of the BrentfordTW8.com newsletter.
Brentford Property Prices - April - June 2012
| Area | Terraced | Sales | Flat/Mais | Sales | Total Averages | Total Sales |
|---|---|---|---|---|---|---|
| TW8 0 | 367083 | 12 | 412879 | 61 | 405351 | 73 |
| TW8 8 | 0 | 0 | 232150 | 10 | 232150 | 10 |
| TW8 9 | 0 | 0 | 231833 | 6 | 231833 | 6 |
| Total | 367083 | 12 | 375300 | 77 | 374192 | 89 |
| Change in Quarter | 14.8% | 71.4% | 39.1% | 108.1% | 34.7% | 102.3% |
| Change in year | 1.3% | 71.4% | 56.7% | 63.8% | 42.1% | 50.8% |
| Change in 3 years | 30.5% | 20.0% | 53.2% | 352.9% | 46.2% | 161.8% |
| Change in 5 years | 7.0% | -20.0% | 45.8% | 71.1% | 32.0% | 27.1% |
| Change in 10 years | 70.9% | -57.1% | 48.3% | -22.2% | 53.3% | -34.6% |
Brentford Property Prices - January - March 2012
| Area | Terraced | Sales | Flat/Mais | Sales | Total Averages | Total Sales |
|---|---|---|---|---|---|---|
| TW8 0 | 270833 | 3 | 282217 | 23 | 280903 | 26 |
| TW8 8 | 0 | 0 | 254471 | 9 | 254471 | 9 |
| TW8 9 | 356500 | 4 | 239890 | 5 | 291717 | 9 |
| Total | 319786 | 7 | 269748 | 37 | 277709 | 44 |
| Change in Quarter | -13.4% | -30.0% | -0.3% | -5.1% | -6.1% | -21.4% |
| Change in year | 0.2% | 0.0% | -0.2% | 85.0% | -8.1% | 41.9% |
| Change in 3 years | - | - | 26.0% | 94.7% | 29.7% | 131.6% |
| Change in 5 years | -2.6% | -70.8% | 6.4% | -24.5% | -2.9% | -45.7% |
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
August 10, 2012
