|Renewed Activity in Putney Property Market|
Relief for estate agents as market returns to life
The latest figures for the local home market show that volumes are picking up after hitting a record low earlier this year.
The number of transactions is up by 70% on the previous quarter but this is still only half the level that was seen three years ago.
The trend for prices is difficult to determine. The average property price between April and June was £481,754 up by 11% on previous quarter - increased activity at top end helped average rise rather than steady increases across the board. Prices down by 4% compared to a year ago outperforming London and national average.
Terraced properties performed relatively poorly which contrasts with other areas in London.
Flats have recovered well and outperformed the market over the last three years - once again this differs from trends elsewhere in London.
The figures for England and Wales as a whole show a modest improvement in the monthly change in house prices. The June increase of 0.1 per cent is the first time the monthly change has been positive since January 2008. The annual drop of 14 per cent took the average house price to £153,046.
London experienced the greatest monthly rise with a movement of 2 per cent, making it the region with the greatest monthly change and an average property value of £301,859.
All regions in England and Wales experienced a decrease in their average property values over the last 12 months.
The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database.
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.
August 14, 2009