SW15 prices recover

Prices up by 7.7% over the last quarter although still down over the year

The latest numbers from the Land Registry show that property prices in Putney appear to have started to rise again

Data from the last quarter shows that prices have recovered from the lows seen in the first half of this year. Local prices were up by over 7% over the quarter to bring the average price of a property in Putney to £314,479. However this is still 7.4% lower than they were a year ago.

This compares poorly with national prices which rose by 10.2% over the year and London overall which was up by 5%.

There was some indication that activity at the top end has recovered with sales recorded in the £1m+ braccket - previously the last two quarters had no sales in this bracket.

The figures came before the latest rise in the base rate so it remains unclear how this will impact the market.

Stephen Rodgers of Berkeley Consultants, who are an Independent Mortgage Specialists said “the recent base rate movement was designed by the Bank Of England to start people thinking about their overall household debt. One solitary base rate increase may not necessarily stop people from borrowing more money however if rates go up once more, consumers may see this as an indication that this is a trend and to expect further rate increases.”

Putney Property Price Changes Jul - Sep 2003

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.

14th November 2003