|Brentford Property Sales August 2009|
Details of property transactions in the local area
Brentford seems to be missing out so far on the recovery in the London property market. The latest figures show that turnover levels on the local property market remain extremely even taking account the current marketing of large developments such as Beecham House and Firestone House. Only 11 properties in the TW8 area outside these two blocks have been sold since the beginning of August according to figures from the Land Registry.
Elsewhere in London the property market seems to be making a more robust recovery. The Right Move house price index which is based on offer prices rather than actual sale prices is suggesting a stronger recovery during Autumn. The index is up by 2.8% for October which and is now higher than the same month last year. By this index London property prices are at a record high and according to their survey only one in ten buyers are expecting prices to fall.
Martin Ellis, housing economist at the Halifax, said, "The combination of increased demand and a low level of properties available for sale has pushed up house prices in recent months. The marked improvement in affordability due to the reduction in both property prices and interest rates since mid- 2007 has been a key factor in stimulating higher demand."
Prices in London rose by 0.8% during August according to the Land Registry's House Price Index. The average price of a London home is £310,640 and this is down by 6.2% since last year.
For the England and Wales as a whole prices fell by 0.1% in August and are down 9.4% compared with the previous August.
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.
January 12, 2010