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Market turnover plunges to record low in December

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putney property prices11 properties changed hands in Putney in December at an average price of £368,273. Both volumes and prices are down on the previous four months. The volume level is the lowest monthly total on record

For the fourth quarter as a whole prices are down by over 14% over the year and the number of transactions have fallen by around two-thirds. The average house in Putney now costs £386,413.

No detached or semi-detached homes were sold during the period.

This contrasts sharply with the previous quarter which saw prices hit a record high - despite the credit crunch and the generally gloomy economic situation. Prices have fallen by nearly 25% compared with the previous period although the level of the fall may have been influenced by the mix of properties sold with a higher proportion of flats changing hands.

The data for January for the country as a whole shows an
annual house price change of -15.1 per cent. 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 average property in England and Wales is currently worth £156,753 and the rate of monthly price change stands at -0.8 per cent. Sales volumes nationally have continued to decrease, with the number of sales averaging 41,014 per month in the months August to November 2008. In the same period in 2007, the average was 106,495

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

Properties Sold in SW15 - December 2008

Address Price (£) Deed Date
162, Felsham Road, SW15 1DP
Flat 7, White Court, West Hill, SW15 3JB
69, Stroud Crescent, SW15 3EL
23, Espirit House, Keswick Road, SW15 2JL
177, Putney Bridge Road, SW15 2NZ
Flat 4, 25, Disraeli Road, SW15 2DR
6, Blackett Street, SW15 1QG
Flat 8, Kenilworth Court, Lower Richmond Road, SW15 1EW
Flat 104, Kenilworth Court, Lower Richmond Road, SW15 1HA
1, Stroud Crescent, SW15 3EL
8, Mascotte Road, SW15 1NN


Copyright notice: All figures in this article are based on data released by the Land Registry. The numbers are derived from analysis performed by PutneySW15.com. Any use of these numbers should jointly attribute the Land Registry and PutneySW15.com.

January 29, 2009