|Five Year Slump for Brentford Flats|
Prices down nearly 15% since 2004
The average price of a Brentford property is £275,154. Prices are up but mainly because of an increase in the number of houses sold.
Sales recovery in Brentford is anaemic compared to rest of London; there is not enough to clear the inventory of flats for sale.
Flats have fallen in price over the last five years. House prices appear to be up but volumes of sales are too low to reach firm conclusion.
In December, London experienced an annual house price change of 6.1 per cent according to the Land Registry. This is the third month in a row that prices have increased year on year. Although London’s annual movement has mirrored that of England and Wales for some time, it now appears that London’s growth in general is increasing more rapidly.
The figures for England and Wales as a whole in December show an annual increase of 2.5 per cent. This brings the average house price in England and Wales to £161,783. This is the first positive annual house price change since May 2008.
Right Move's House Price index, which is based on offered prices rather than sales prices, is showing that in January in London prices rose to an average of £407,731. This represents an annual change of 5.5% Right Move say their figures show 'century low' stock levels for estate agents with the average agent having less than 65 properties on their books.
Miles Shipside, commercial director of Rightmove said, “the decision of post New Year sellers to ask for a higher price could be a shrewd move. In spite of problems brewing for later in the year, there are definitely some of the ingredients for a buoyant spring, and a window of opportunity that sellers may wish to take advantage of ”.
The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database.
Brentford Property Prices, October - December 2009
Brentford Property Prices, July - September 2009
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 8, 2010