|Life returns to Brentford property market|
Big increase in sales but prices remain flat
There were encouraging signs for the Brentford property market in the latest official figures. The chronic lack of activity seen in the last quarter seems to have passed and there has been a significant increase in the price of properties changing hands.
The figures show that the average price of a Brentford property is now £261,005 down by 1.5% from the last quarter. Property prices are down by 5.7% over the previous year but this masks a significant difference in the performance of different areas of the market.
Flats in Brentford also saw a fall in price over the last year with a 9.8% drop. The average flat in the area will now set you back £256,287 which is only slightly less than the average price of a flat in the Chiswick area. Terraced house prices have surged ahead by 17.6% over the last year and remain at a substantial discount to similar sized houses in other areas. Over the longer term the picture is more consistent with terraced houses up by 9.8% over three years and flats up by 6%.
of local estate agents Quilliams
saw positive features in the latest figures. She told www.BrentfordTW8.com
"It's encouraging to see an increase in the number of properties
being sold. There can be no doubt that Brentford offers excellent value
in property terms and we expect a busy spring and summer. Most of the
new developments have settled down in sales terms and we expect continued
interest in larger three or four bedroomed houses"
Brentford Property Prices, Oct - Dec 2005
Source: Land registry
March 14, 2006