|Near But Less Dear|
Crunch Time for Ealing Property Owners
As Gordon Brown announces policy to help lift the housing mood, Ealing is left looking decidedly deflated. His tour of Ealing may not have taken him to many houses that will benefit from the new £175,000 stamp duty threshold but we're moving in the right direction.
The average property in the W5 post code area now stands at £387,849 down 7.6% from a year ago according to the latest official figures. In W13 prices are down by 5.5% to £371,036.
The news for local estate agents gets worse as volumes continue to plummet. They have more than halved in W5 over the last year and are down by a third in W13.
The biggest drop in volume appears to be at the top end of the market. No detached houses were sold in Ealing at all during the three months to the end of June.
However for more modest homes the news is better. The prices of terraced homes has actually been rising recently across Ealing. Flats fell marginally in price over the year in W5 but were up in W13.
The average house price in England and Wales stood at £180,781 for June, which was a decrease on the month before and makes the drop tally ten consecutive months.
The average property price in London is currently £345,136, which is up 2.5% over the last year although the level has been falling for the last five months.
The numbers are subject to revision as usually some properties are added late to the Land Registry's database.
Ealing Property Prices to April - June 2008
W5 Post Code Area
Data in this report is subject to crown copyright protection.
September 16, 2008