Transactions grind to a halt in local property market

Only 13 properties have been recorded as changing hands in Ealing in January, the lowest level on record.

With such low volumes in is difficult to determine the precise level of local property prices but the eight properties that changed hands in W5 did so at an average level of £408,125 and the five properties in W13 averaged £371,400. This doesn't suggest that prices are in a tail-spin.

The data for January for the country as a whole shows an
annual house price change of -15.1%. This marks the seventeenth month in a row where the annual rate of change has fallen. This contrasts with the 21 months of uninterrupted increases in the annual rate of change between December 2005 and August 2007. Prices in London were down by 14.1% over the year.

The numbers are subject to revision as usually some properties are added late to the Land Registry's database.

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The data is derived from Land Registry figures.

Properties Sold in the W5 Area

Properties Sold in the W13 Area

Source: Land Registry