W5 area reaches new high but West Ealing prices up faster

The latest official figures show that property prices in the Ealing area are continuing to rise to new all-time highs.

Overall the W5 area has seen a rise of 11.5% over the last year but this is artificially boosted by the inclusion in the figures of the sale of the Kenton House Hotel which went for £3,555,000. This is the most expensive residential property ever sold in the Ealing area. We have adjusted the numbers to exclude this transaction and the average increase falls to 6.4%

The average property in the Ealing W5 area now costs £427,863 (or around £406,000 excluding Kenton House). This is the first time that the W5 property market has broken the £400,000 for an average price in a quarter.

Prices in West Ealing are increasing more rapidly than in W5. The average price of a property in the W13 area is now £355,624. This has increased by 9.5% in the last quarter and 9.7% over the last year.

Nationally properties were up by 8.3% over the last year to an average price of £178,423. London saw the highest rise for England and Wales in this period with the average property now costing £323,511 up by 11.6%

The data include sales that took place prior to March 31st and therefore will not show the impact of the recent rise in interest rates

The figures are taken from Land Registry data and this data is subject is subject to Crown Copyright.

The figures quoted above are subject to change as more properties are registered with the Land Registry.

Data in this report is subject to crown copyright protection.

May 17, 2007