|Putney Property Remains at High Levels|
Buyer emphasis switches from flats to houses in second half of year
The market for property in Putney remains robust according to the latest official figures.
The average price of a home sale reported to the Land Registry during the third quarter of 2012 in SW15 was £562,656. This is up by 3.0% compared to the previous three months although down by 3.4% compared to the same period last year which was an all-time high for local property prices.
Flat prices fell back after reaching record levels in the first half of the year as interest appears to have switched to larger properties. Even so well over half the 203 properties sold in the area during the period are flats.
Over the longer term Putney property prices are up by 20.3% over three years and 65.7% over 5 years.
London was the region in England and Wales which experienced the greatest increase in its average property value over the last 12 months with a movement of 5.5 per cent.
The September data from Land Registry's flagship House Price Index shows an annual price increase nationally of 1.1 per cent which takes the average property value in England and Wales to £162,561.
The most up-to-date figures available show that during July 2012, the number of completed house sales in England and Wales decreased by 9 per cent to 56,509 compared with 62,303 in July 2011.
The number of properties sold in England and Wales for over £1 million in July 2012 increased by 13 per cent to 817 from 725 in July 2011.
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.
November 8, 2012