House Prices in Chiswick W4 Fall

The latest official figures from the Land Registry are suggesting that Chiswick property prices have started to fall.

After reaching record levels in the previous quarter the average price of a home in W4 fell to £615,752 in the three months to the end of 2010. This is down by 8.0% on the previous quarter but still 10.1% up on the same period last year.

A flood of buying due to high bonuses from the City has failed to materialise and, in fact, the weakest sector of the market relatively was the top end with far fewer larger homes selling compared to previous periods. On the other hand flats, which had lagged the price increases in the area, saw an increase in price and sales during the period.

London as a whole remains by far and away the strongest area in the country in price terms with home values rising by 6.2% in December compared to the same month in 2009. The average London property now costs £342,325. For England and Wales as a whole property prices rose by 1.5% with many areas of the north seeing falling values over the year. The average home price in the U.K. is now £163,814.