The average home in Chiswick now costs over one million pounds according to the latest official figures as reported on local news website
ChiswickW4.com. During the third quarter of the year, values increased by 19.8% to a record high.
There were 202 transactions in the W4 area during the period at an average of £1,000,526. The level was boosted by the sale of a number of larger properties in the Bedford Park area including a house on The Orchard, which went for £6,649,410. The average price of a terraced home is now £1.1 million with flats at over £500,000.
Prices in W4 post have risen by 145.2% over the last decade.
Christian Harper of Chiswick estate agent
HarperFinn added a note of caution: "I hear 'prices always go up in Chiswick, it's Chiswick darling', almost daily, which I feel is becoming increasingly harder to justify. Prices in W4
have cooled as demand has slightly dwindled, that's a fact. Fortunately they haven’t dropped to anything less than they were at the start of Q2 2014
.
"Chiswick is fortunate to be one of the most desirable residential locations in London and this will protect us from some of the exposure that weaker areas will suffer over the next few months".
Note of caution
However he said that controversies such as Mansion taxes, banking tax reform and 'In or Out' referendums would do nothing to encourage stability and cautioned: "In my opinion if we are not careful we will be reporting some darker figures in 2015."
London property prices generally are up by 18.4% to £460,521 in the year to end September according to the Land Registry although they are slightly down from the level seen at the end of August.
In London, tenant demand was broadly flat over the last quarter. Despite this, rents are still expected to move higher albeit by a little less than 2 per cent over the next twelve months.
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