As Property Crunch Moves in, is Ealing Still as Safe as Houses?

Estate Agents report slowing of local market

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Estate agents Knight Frank placed Ealing seventh in a poll of the most stable London boroughs last month. And yet this month prices in Ealing are down by 0.9 per cent according to property website Rightmove. So where's it all gone wrong for the 'Queen of the Suburbs'?

Annual house price inflation in England and Wales has slowed to its lowest level since mid-2005, as April suffered its first month-on-month fall in asking prices in six years.

According to figures by Rightmove the annual rate of asking-price increases slowed to 1.3 per cent in April, down from 5 per cent in March, as the impact of the credit crunch on mortgage availability continued to bite.

Prices in the North West of England fell by 1.4 per cent from March while the next largest decline was in London, where prices were down by 0.9 per cent, with Richmond, Ealing, Waltham Forest, Kensington and Chelsea among the worst hit.

And at a time of year when estate agents should be at their busiest, the number of houses and flats changing hands this spring is between 30 and 50 per cent down on last year.

Thousands of properties have been stuck on the market for months with only hefty drops in asking prices sparking significant interest. Andrew Gilbert, of the Ealing and Acton branch of agents Winkworth, told press: "Last year, we registered about 60 applicants per week but now it's more like 20. There's no doubt that this market is a struggle."

He said the hardest hit would be those in the £350,000-£900,000 'mid-market' with buyers being mainly young families worrying about jobs and often school fees.

Properties Sold in the W5, W7 and W13 areas since March


Address Date Price

69, Windsor Road, Ealing



154, Meadvale Road, Ealing



24, Willow Road, Ealing



3, Greystoke Park Terrace, Ealing



116, Brunswick Road, Ealing



14, Netherbury Road, Ealing



26a, Olive Road, Ealing




Address Date Price

85, Beechmount Avenue, Ealing W7



68, Gifford Gardens, Ealing W7



85, St Marks Road, Hanwell



19, Milton Road, Ealing W7



29 High Trees Court, 24, Manor Court Road,



28, Golden Manor, Ealing




Address Date Price
48, Salisbury Road, Ealing 20-Mar-08 £417,000
35, Denmark Road, Ealing 17-Mar-08 £242,500
209, Cavendish Avenue, Ealing 14-Mar-08 £267,000
Sunningdale, 10, Hardwick Green, Ealing 07-Mar-08 £249,950
11b, Northcroft Road, Ealing 07-Mar-08 £312,000
125, Balfour Road, Ealing 07-Mar-08 £410,000
14, Downside Crescent, Ealing 06-Mar-08 £420,000


Source: Land Registry/Mouseprice

May 2, 2008