|Luxury Homes Lead Putney Property Rise|
SW15 prices up by over 20% over the last year
The latest data from the Land Registry are showing that prices in the Putney area rose by 21.7% over 2006. The average rose home now costs £449,853.
The market is slightly off its peak which was reached in the third quarter of 2006. In the last quarter of the year prices fell slightly.
If you take out the transactions at the top end, the market appears to have been much more subdued. Terraced houses rose by just 11.1% and flats were up by only 4.7% Over the last ten years however flats have been the best performing segment of the Putney property market.
Putney prices have massively outperformed London and the rest of the UK in 2006. The average price of a home in England and Wales is now £173,717 up by 7.8% over the year. London prices have been increasing more rapidly rising by 10.4% over the same period.
Volumes were down on the previous quarter which was one of the busiest on record. However, the surge in sales was due to new flat developments coming to the market. The numbers show that transactions are higher than the same period last year and more sales are likely to be reported for the October to January quarter.
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.
April 11, 2007