|TW8 Property Prices Continue South|
Only 44 homes change hands so far this year
The Brentford property market appears to be still in the doldrums with the latest official data showing that only 44 properties have been sold so far this year at an average price which is 8.1% down on the same period in 2011.
The average home in TW8 is currently valued at £277,709 which is below the average for London as a whole and 2.9% lower than the level of 5 years ago.
Only 37 flats were sold during the period, a level of turnover which is far too low to clear the massive backlog of units on the market or yet to be completed. There were just seven houses sold of which none were semi-detached. The number of transactions is 45.7% down on the same period five years ago.
The March data from Land Registry's flagship House Price Index shows an annual price decrease of 0.6% which takes the average property value in England and Wales to £160,372. London remains the best performing area in the country with prices rising by 0.7% to £343,522 over the same period.
The most up-to-date figures available show that, during January 2012, the number of completed house sales in England and Wales increased by 13% to 42,511 compared to 37,584 in January 2011.
A list of properties sold in the Brentford area will appear in a forthcoming edition of the BrentfordTW8.com newsletter.
Brentford Property Prices - January - March 2012
Brentford Property Prices - October - December 2011
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
May 15, 2012