|Nearest and Dearest - February 2009
Latest homes being sold in the Ealing area
Local estate agents look set for a tough year ahead with the latest figures showing that transactions in the local property market have ground to an almost complete standstill.
Only 16 properties have been reported as being sold in the W5 post code area so far in February. For the same period in West Ealing (W13) only 14 properties were sold. This is about 70% down on the same period last year.
With less than one transaction a day taking place some estate agents can go weeks without a single commission and are becoming increasing reliant on lettings fees. Further closures of agents are anticipated with some of the larger chains rumoured to be pulling out of the local market.
The news on prices is better with no strong evidence that the market is in free fall. The average price of properties sold in W5 for February was £382,289 and for W13 £372,711. Although these levels can only be regarded as indicative due to the low volumes, they do not suggest that prices are plummeting. Recent transactions did include the sale of a house in North Common Road for £1.7 million.
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Properties Sold in the W5 Area
Properties Sold in the W13 Area
Source: Land RegistryMay 27, 2009