Property demand in Chiswick is switching towards smaller properties according to the latest data released on the market.
As reported on Chiswick's local website
www.ChiswickW4.com the average price of a flat in Chiswick rose to £415,901 during the first three months of this year. This is the highest quarterly average given by the Land Registry for flats in W4.
At the same the number of transactions involving flats is seeing healthy growth up by 24% compared with the same period last year. On the other hand prices for houses seems to have continued falling with the price of the average terraced property in W4 falling by 14% compared with a year ago.
Interest in the top end of the market also seems to have dissipated with the Land Registry not reporting any detached properties as being sold so far this year.
Chiswick property prices
Overall, the average price of a property in W4 fell by 9.7% compared with the same period in 2011. The larger proportion of flats sold contributed to the fall. Christian Harper of
OliverFinn estate agents commented that contrary to the latest figures current activity is booming.
"Demand is far outweighing supply and we are back to sealed bids and open days as the norm. In an article early this year I predicted this level of activity if supply was not forthcoming. "We are almost in a chicken and egg scenario.
"Many existing W4 owners may consider that the next step is too far to reach with the latest increase in asking prices and therefore decide not to move which will starve the market from the ground upwards."
Continue reading this article ...
Table of W4 property prices: January - March 2012.
As reported on Chiswick's local website www.ChiswickW4.com the average price of a flat in Chiswick rose to £415,901 during the first three months of this year. This is the highest quarterly average given by the Land Registry for flats in W4.
At the same the number of transactions involving flats is seeing healthy growth up by 24% compared with the same period last year. On the other hand prices for houses seems to have continued falling with the price of the average terraced property in W4 falling by 14% compared with a year ago.
Interest in the top end of the market also seems to have dissipated with the Land Registry not reporting any detached properties as being sold so far this year.
Chiswick property prices
Overall, the average price of a property in W4 fell by 9.7% compared with the same period in 2011. The larger proportion of flats sold contributed to the fall. Christian Harper of OliverFinn estate agents commented that contrary to the latest figures current activity is booming.
"Demand is far outweighing supply and we are back to sealed bids and open days as the norm. In an article early this year I predicted this level of activity if supply was not forthcoming. "We are almost in a chicken and egg scenario.
"Many existing W4 owners may consider that the next step is too far to reach with the latest increase in asking prices and therefore decide not to move which will starve the market from the ground upwards." Continue reading this article ...
Table of W4 property prices: January - March 2012.
