|Putney Property Prices Fall Again|
Average price dips back towards the half a million mark
Putney property prices have fallen for the second consecutive quarter according to the latest numbers from the Land Registry.
After peaking in the third quarter of 2010 home values have drifted down since to average just above the half a million pound mark at £506,915.
This is a slight fall from the previous quarter and prices are down 1.7% over the last year. However, the average price so far this year has been boosted by an increase in activity in detached houses. Terraced house and flat prices have fallen more rapidly in recent months.
Turnover in property has also been on a downward trend. The number of sales in the quarter is down by 11.5% compared with the same time last year and is down by 42.3% compared to 5 years ago.
Since 2006 the average price of a Putney property has risen by 38.2%
House prices in London are now the only in the country that have risen compared with the same period last year. The Land Registry's House Price Index shows that the average price in the capital was £336,828 in March 2011 up by 0.8% compared to the same month last year. For England and Wales the average price is now £160,996 down by 2.3% from March 2010. Prices in the north east have fallen by 9.3% and in Wales they are down by 7.2%.
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.
May 12, 2011