Ealing home on Carlton Road sells for £3.7 million

A detached house on Carlton Road in W5 has broken previous Ealing records and been sold for £3.7 million pounds.

The substantial property - marketed by Foxton's - has six bedrooms a large modern kitchen, conservatiory, extensive grounds, and a detached garage with a gym.

According to latest figures from the land registry the sale was concluded on 30th October last year. It's believed to have initially been placed on the market at £4.5 million.

In the same quarter a house on Regina Road in W13 sold for £2.3million - the second highest price ever reached in the West Ealing area.

Local estate agents aren't surprised. Ray Upcraft from Russell Collins Estate Agents says people are moving to Ealing from places like Chiswick: ''As predicted the year has begun with a real bang with many properties being sold for way in excess of guide price. It seems as if 2014 will mirror 2013 as the amount of applicants registering to buy dramatically outstrips those looking to sell. The general convenience even before Crossrail is mentioned plus great schools is bringing many people into our area from areas such as Chiswick and Shepherd’s Bush.''’

In the W5 post code area 86 properties have been reported to the Land Registry as changing hands since the beginning of October 2013. The average price during the period was £597,398 suggesting that the market is heading back to the peak levels seen in the Spring of last year. Including the Carlton Road house there were six properties in the area that sold for over one million pounds.

There have been 47 properties sold in the W13 post code area since the beginning of October at an average price of £549,839.

Peter Ttouli, Sales Manager for haart Ealing Broadway says: " The market in Ealing has gone absolutely crazy in the last 6-8 months and there does not appear to be any end in sight. There is an evident abundance of buyers, but an unfortunate shortage of quality properties - resulting in haart achieving record prices for their vendors. We certainly see 2014 as being a strong market for Estate Agency, especially in the wider Ealing area."

According to the RICS Residential Market Survey, the number of homes sold per chartered surveyor in London reached its highest point since October 2010 in December as the recovery in the capital’s property sector continued.

Over the festive period, the average number of transactions per surveyor in London, reached 16 - over treble that of the lowest point of the downturn back in February 2009 when respondents were selling a mere 6. With more sales now going through, growth in demand for rented accommodation has fallen again as a growing number of renters opt to test the sales market.

Meanwhile, with the amount of homes coming onto the market still nowhere near enough to meet the higher level of demand, prices continue to rise. In London during December, a net balance of 99 percent more chartered surveyors reported growing prices. Significantly, every area of the UK saw prices increase with London and the South East experiencing the biggest jumps.

Peter Bolton King, RICS Global Residential Director, commented: “The housing market is starting to thrive once more. Sales are at their highest level in almost six years and this is being reflected right across the UK. Growing availability of affordable mortgages has released some pent-up demand from a market that, in recent years, has seen many viable buyers unable to enter the market. On the face of it, this seems like good news but unless we see a marked increase in the number of homes coming up for sale we could well be looking at a price rises becoming unsustainable in some areas.”

The latest reported sales are given in the table below. The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database:

Source: Land Registry

Data in this report is subject to crown copyright protection.

January 29, 2014