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Market back in the doldrums as Wallis House sales falter

The boost to the local property market seen in June seems to have quickly lost momentum according to the latest figures.

So far in the second quarter only six units at Barrett's Wallis House development have been recorded at the Land Registry as having been sold .

In the second quarter to date prices have fallen to an average of £316,413 but with only 16 transactions having taken place it is hard to determine the actual direction of prices. For the first time since 2006 a property in Brentford has changed hands for under £100,000.

In June 70% of properties sold in the local area were from this development with the top priced one going for over £500,000. So far only 30 of the units in the massive development have been sold so it remains to be seen whether the local market can digest these flats plus all the others soon to come to the market.

Unfortunately for local estate agents many of these sales will be directly from the developer and other transactions locally are few and far between.

The average price of a Brentford home was down by 3.8% to £315,467 in the second quarter of this year compared to the first quarter when the market reached an all-time high. This still represents an 11.2% increase on the level seen in the same April to June period last year.

The long term trend now shows a very clear gap between price growth in houses and flats in the Brentford area. The average terraced house rose in price by 47.9% over the last five years compared with a rise of only 2% for flats.

The numbers quoted are based on Land Registry data. The numbers are subject to revision as there are usually some properties that are added late to the Land Registry's database.

Where do I live? Brentford TW8 postcodes are divided into three sectors, TW8 0xx, TW8 8xx and TW8 9xx. Broadly speaking, TW8 0xx covers areas east of Boston Manor Road, TW8 8xx goes west of Boston Manor Road, whilst TW8 9xx covers the areas to the north of the A4.

Address Price (£) Deed Date
59, Lateward Road, TW8 0PL
485,000
31/07/2008
46, Lateward Road, TW8 0PL
387,000
31/07/2008
302 Apartment, Wallis House, Great West Quarter, TW8 0HE
480,000
28/07/2008
G11 Apartment, Wallis House, Great West Quarter, TW8 0HD
225,000
28/07/2008
301 Apartment, Wallis House, Great West Quarter, TW8 0HE
275,000
25/07/2008
2 Apartment, 1, Town Meadow, TW8 0BQ
317,000
24/07/2008
144, Holland Gardens, TW8 0AY
327,500
23/07/2008
15 Apartment, 1, Point Wharf Lane, TW8 0DD
260,000
18/07/2008
76, Enfield Road, TW8 9PB
345,000
17/07/2008
Flat 1, 4, Glenhurst Road, TW8 0QS
86,950
14/07/2008
G02 Apartment, Wallis House, Great West Quarter, TW8 0HD
300,000
11/07/2008
Apartment Lg02, Wallis House, Great West Quarter, TW8 0HD
295,995
10/07/2008
Apartment Lg01, Wallis House, Great West Quarter, TW8 0HD
284,995
10/07/2008
Upper Flat, 17, Mafeking Avenue, TW8 0NJ
235,000
04/07/2008
40, Clayponds Avenue, TW8 9QF
323,000
01/07/2008
157, Holland Gardens, TW8 0AY
435,000
01/07/2008

 

April 30, 2009

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