Property transactions in W5 and W13 so far this year

Property prices in Ealing appear to have held steady so far this year according to the latest information on home sales.

The average price of a property sold in W5 since the beginning of the year is £426,751. The average for the last quarter of £2009 was just under £420,000.

In W13 the average has fallen to £394,116 so far this year compared to £424,528 in the final quarter of last year. However, much of the fall in the average seems to be down to a lack of sales in the million pound plus bracket so far this year. On a like for like basis prices appear to be stable.

The recovery in the Ealing property markest seems to have been confirmed by the latest data from the Land Registry. During December 2009 53 properties changed hands a high number during what is generally a quiet month. Strong sales seem to have continued through to January.

In February, London's annual house price change according to the Land Registry index was a positive 11.9 per cent, which is an increase from last month's figure, and the fifth month in a row in which the movement has been positive. It was also the strongest growth of any region.

The average value of a property in London is now £333,394, which is a decrease from last month.

For the country as a whole there was an annual increase of 7 per cent. This is the fourth month in a row in which the annual movement has been positive. The monthly house price change is negative this month, at -0.3 per cent. This brings the average house price in England and Wales to £164,455.

The Rightmove House Price Index for February 2010 reveals that average asking prices increased by over £7,000 in the past month. This is the largest monthly increase since April 2007 and represents a year-on-year increase of 6.1%. In London they are showing the highest ever level of asking prices.

Miles Shipside, commercial director of Rightmove comments: "A price jump of over 3% is more comparable to the pre-credit-crunch boom-times. Sellers are setting their sights higher, and some agents are going along with them in order to win scarce instructions. Property for sale remains scarce in popular areas, but new supply to the market has to be priced at what buyers are willing and able to pay. An average increase of over 7,000 pounds may prove to be a bit too spicy for some buyers' tastes, now that economic constraints have forced them to develop a simpler palate."

The latest reported sales are given in the table below.

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Properties Sold in the W5 Area

Properties Sold in the W13 Area

Source: Land Registry