The amount of property coming to the market in Chiswick continues to decline reports local news website
ChiswickW4.com. This is despite expectations that sales were being postponed until after the election.
Estate agents had been hopeful that once the period of political uncertainty had passed, particularly with regard to the possible Mansion Tax, sellers would be quick to bring properties to the market. However, there are strong indications that sales volumes have continued to be depressed having fallen by nearly 30% year on year in the first quarter.
Only 19 properties have been reported to the
Land Registry as being sold in the W4 postcode area since the beginning of April, thirteen of which changed hands for over £1 million. The highest price paid was for a six bedroom semi-detached house on Dukes Avenue that went for £3,550,000.
However Christian Harper of
Harper Finn does think supply has improved since the election commenting: 'Finding a quality property to buy in Chiswick has been like looking for hen's teeth so far this year however since the election things have become easier.
September surge
“I believe that we are on the start of 10% increase curve for the remainder of 2015 which has encouraged sellers to sell and buyers to buy. I say this with slight caution, as the market tends to quieten as we approach summer holidays. Stand by for September, I think it's going to be busy!”
According to The Royal Institute of Chartered Surveyors (
RICS), in the lettings market, tenant demand in London increased again in May (on a non-seasonally adjusted basis) and in the process is continuing to run ahead of supply with respondents anticipating rents will rise 2.6% over the next 12 months.
- April data from the Land Registry shows that the annual price increase in London was 10.9% still well ahead of the rest of the country.
- However, the Office for National Statistics (ONS) has produced data, which contradicts this with London prices rising by just 4.3% in the year to April the lowest growth rate in two-and-a-half years and below the national average.
- Read the full story.
