|Putney Flat Prices Reach Record Levels|
Latest data shows lower priced properties doing well in SW15
The average price of a flat in Putney has risen above £400,000 for the first time ever according to the latest official data.
Figures from the Land Registry show that the average price of a flat in SW15 during the second quarter was £401,051. This is 8.5% higher than the same period last year and 128 homes were sold during the period.
Overall, the average property price in the area fell slightly with activity at the top end of the market much less than it had been in previous quarters.
Appetite for larger properties in the area seems to have diminished with the number of detached and semi-detached properties falling sharply compared with the previous three months.
The average price of a home in Putney is now £546,522 which is 4.6% down on the previous three months and still below the record levels seen last year.
Over the last 5 years the average price of an SW15 property is up by 9.5% and over ten years it is up by 50.% This is a relatively small rise compared to other areas of London.
For England and Wales as a whole the House Price Index shows an annual price increase of 0.9% which takes the average property value in England and Wales to £161,777.
Putney Property Prices (April - June 2012)
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.
September 14, 2012