Putney Property Sales - September 2014
Market average falls to just over £700,000
Buyer interest seems to have switched from the very top end of the market which had been very buoyant in the first half of the year.
As a result the average price of a home in the SW15 post code area fell back to just over £700,000 in the third quarter of the year according to figures from the Land Registy. This level is still 2.5% above that of the same period in 2013.
Only 22 detached and semi-detached properties sold in the area during the period, well down on the same three months last year. At the same time flat sales have been relatively strong and made up 72% of transactions during the quarter.
The price of a bog standard terrace house in Putney now averages over a million pounds according to the latest official figures.
There were 54 of the sold in the third quarter of 2014 at an average price of £1,005,803 the first time it has risen above the seven figure mark.
Local Agent Allan Fuller commented: "Mansion Tax is an issue that has not influenced property until recently, but all the talk of this new annual levy championed by some political parties has had a stultifying effect on the £2million and plus property market. Even for the very rich a 2% annual tax of at least £20,000 each year, will have top end buyers sitting on their hands."
London property prices generally are up by 18.4% to £460,521 in the year to end September according to the Land Registry although they are slightly down from the level seen at the end of August. The a average house price in England and Wales is now £177,299 compared with the peak of £181,324 in November 2007. This is a rise of 7.2% compared with the same month last year.
The most up-to-date figures available show that during July 2014 the number of completed house sales in England & Wales increased by 7 per cent to 79,214 compared with 73,749 in July 2013. The number of properties sold in England and Wales for over £1 million in July 2014 increased by 19 per cent to 1,439 from 1,207 in July 2013.
The Royal Institution of Chartered Surveyors (RICS) are striking a cautious note pointing out that demand for property in London has been down for six months in a row. Prices are also falling in more recent months according to their survey which covers sales up to the end of October.
London is experiencing a fall in buyer demand with 62% more chartered surveyors reporting a fall over the last month. Significantly, a little more stock is now coming onto the market with 15% more chartered surveyors seeing a rise in new instructions up from 3% more last month. The RICS say that this points to the market in London moving towards a more sustainable position and they remain modestly positive on a twelve month view.
In London, tenant demand was broadly flat over the last quarter. Despite this, rents are still expected to continue to move higher albeit by a little less than 2 per cent over the next twelve months.
Simon Rubinsohn, RICS Chief Economist, said, 'The flatter trend in the market is partly a reflection of potential buyers becoming a little more cautious about making a purchase as more stringent lending criteria has made it harder to access mortgage finance. An increasing awareness of the approaching general election also appears to be contributing to the softer market if the responses to the latest survey are anything to go by. However, with new instructions still flat at a headline level as has been the case for most of the last year it seems implausible that the dip in demand will result in very much of a decline in house prices.'
Properties Sold in SW15 - September 2014 |
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|---|---|---|
| Deed Date | Address | Price (£) |
| 30/09/2014 | Flat 8, Magdalene House, Manor Fields, SW15 3LU | 707,500 |
| 30/09/2014 | Flat 21, Stormont House, 19 Scott Avenue, SW15 3PA | 635,000 |
| 30/09/2014 | 3 Kings Keep, SW15 6RA | 770,000 |
| 30/09/2014 | Flat 2, 18 Oxford Road, SW15 2LF | 450,000 |
| 29/09/2014 | 56b Luttrell Avenue, SW15 6PE | 715,000 |
| 29/09/2014 | Flat 2, Dryburgh Court, 1 Dryburgh Road, SW15 1BN | 830,000 |
| 26/09/2014 | 24a Oxford Road, SW15 2LQ | 535,000 |
| 26/09/2014 | 85a Lower Richmond Road, SW15 1EU | 550,000 |
| 26/09/2014 | 11 Robin Hood Way, SW15 3PW | 385,000 |
| 26/09/2014 | 6 Mary Adelaide Close, SW15 3PZ | 499,950 |
| 26/09/2014 | 17 Hawkesbury Road, SW15 5HL | 425,000 |
| 26/09/2014 | 306 Dowdeswell Close, SW15 5RP | 435,000 |
| 26/09/2014 | Flat 2, Humphry House, Whitnell Way, SW15 6DG | 390,000 |
| 26/09/2014 | Flat 2, Berkeley Court, 2 Cherrywood Drive, SW15 6DS | 484,000 |
| 26/09/2014 | Flat A, 20 Cambalt Road, SW15 6EW | 630,000 |
| 26/09/2014 | Flat 7, 366 Upper Richmond Road, SW15 6TS | 375,000 |
| 26/09/2014 | 21 Mascotte Road, SW15 1NN | 475,000 |
| 26/09/2014 | Flat 16, Tragail, Mercier Road, SW15 2AS | 585,000 |
| 26/09/2014 | 40 Buttermere Drive, SW15 2HW | 499,950 |
| 25/09/2014 | Flat 4, 19 Rayners Road, SW15 2AZ | 1,050,000 |
| 25/09/2014 | 28 Oakhill Road, SW15 2QR | 1,637,500 |
| 25/09/2014 | 75 Innes Gardens, SW15 3AD | 265,000 |
| 24/09/2014 | Flat 5, Stormont House, 19 Scott Avenue, SW15 3PA | 495,000 |
| 23/09/2014 | 59 Dover House Road, SW15 5AB | 685,000 |
| 22/09/2014 | Flat 12, Clanfield House, Bessborough Road, SW15 4BJ | 290,000 |
| 22/09/2014 | 34 Cortis Road, SW15 3AG | 324,950 |
| 19/09/2014 | Flat 13, Glenalmond House, Manor Fields, SW15 3LP | 580,000 |
| 19/09/2014 | Flat 22, Portsea House, Petersfield Rise, SW15 4AG | 285,000 |
| 19/09/2014 | Flat 41, Witley Point, Wanborough Drive, SW15 4AX | 185,000 |
| 19/09/2014 | Flat 12, Stoatley House, Bessborough Road, SW15 4BP | 290,000 |
| 19/09/2014 | Flat 26, Lime Court, 2 Gipsy Lane, SW15 5RJ | 491,000 |
| 19/09/2014 | Flat 1, Putney Lodge, 5 St. John's Avenue, SW15 2AJ | 262,000 |
| 19/09/2014 | 130 Fawe Park Road, SW15 2EQ | 1,150,000 |
| 17/09/2014 | Ground Floor Flat, 171 Lower Richmond Road, SW15 1HH | 800,000 |
| 17/09/2014 | 63 Hersham Close, SW15 4JQ | 300,000 |
| 17/09/2014 | 3 Roskell Road, SW15 1DS | 1,225,000 |
| 16/09/2014 | 90 Woking Close, SW15 5LB | 399,999 |
| 16/09/2014 | 5 Cortis Road, SW15 3AF | 340,000 |
| 15/09/2014 | 26 Robin Hood Way, SW15 3PH | 493,300 |
| 12/09/2014 | Flat 14, Bede House, Manor Fields, SW15 3LT | 920,000 |
| 12/09/2014 | Flat 5, Lane End, 196 West Hill, SW15 3SH | 310,000 |
| 12/09/2014 | 19 Dover House Road, SW15 5AA | 700,000 |
| 12/09/2014 | 25 Askill Drive, SW15 2HX | 423,000 |
| 12/09/2014 | 125a Oakhill Road, SW15 2QL | 735,000 |
| 12/09/2014 | Flat 15, Downholme 101-107, Upper Richmond Road, SW15 2TH | 325,000 |
| 12/09/2014 | Flat 13, White Court, West Hill, SW15 3JB | 425,000 |
| 11/09/2014 | 84 Clarendon Drive, SW15 1AH | 1,750,000 |
| 11/09/2014 | 17 Fanthorpe Street, SW15 1DZ | 1,500,000 |
| 10/09/2014 | 25 Cambalt Road, SW15 6EL | 142,500 |
| 10/09/2014 | Flat 23, Avershaw House, 1 Chartfield Avenue, SW15 6AD | 460,000 |
| 10/09/2014 | 43 Vanneck Square, SW15 5DX | 559,800 |
| 10/09/2014 | 33 Ludovick Walk, SW15 5LE | 120,000 |
| 10/09/2014 | 7 Heath Rise, Kersfield Road, SW15 3HF | 1,530,000 |
| 08/09/2014 | 25 Vandyke Close, SW15 3JQ | 445,000 |
| 08/09/2014 | Flat 17, Allenford House, Tunworth Crescent, SW15 4PG | 145,000 |
| 08/09/2014 | 10 Kingslawn Close, SW15 6QJ | 935,000 |
| 08/09/2014 | Flat 6, 319 Upper Richmond Road, SW15 6ST | 435,000 |
| 05/09/2014 | 1, Apsley House, 2 Holford Way, SW15 5EY | 120,000 |
| 05/09/2014 | 38, Queen Marys House, 1 Holford Way, SW15 5DH | 121,500 |
| 05/09/2014 | Flat 89, Highlands Heath, Portsmouth Road, SW15 3TY | 675,000 |
| 05/09/2014 | 110 Swinburne Road, SW15 5EH | 681,000 |
| 05/09/2014 | Flat 30, Belvedere Court 372-374, Upper Richmond Road, SW15 6HY | 470,000 |
| 05/09/2014 | 187 Felsham Road, SW15 1BB | 690,000 |
| 05/09/2014 | Flat 41, Kenilworth Court, Lower Richmond Road, SW15 1EN | 785,000 |
| 05/09/2014 | Flat 76, Kenilworth Court, Lower Richmond Road, SW15 1EN | 840,000 |
| 05/09/2014 | 2a Bangalore Street, SW15 1QE | 750,599 |
| 05/09/2014 | 18b Schubert Road, SW15 2QS | 450,000 |
| 04/09/2014 | Flat 5, Repton House, 20 Scott Avenue, SW15 3PB | 590,000 |
| 04/09/2014 | 8 Ringwood Gardens, SW15 4NP | 485,000 |
| 04/09/2014 | Flat 10, March Court, Warwick Drive, SW15 6LE | 550,000 |
| 04/09/2014 | Flat C, 327 Upper Richmond Road, SW15 6SU | 745,000 |
| 04/09/2014 | Flat 7, Westmore Court 17-20, Carlton Drive, SW15 2BU | 485,000 |
| 04/09/2014 | Flat 21, 73 Upper Richmond Road, SW15 2SR | 480,000 |
| 04/09/2014 | 149 Tildesley Road, SW15 3AU | 305,000 |
| 02/09/2014 | 69 Swinburne Road, SW15 5EQ | 755,000 |
| 02/09/2014 | 10 Langside Avenue, SW15 5QT | 1,450,000 |
| 02/09/2014 | Flat C, 12 Schubert Road, SW15 2QS | 480,000 |
| 01/09/2014 | 350 Upper Richmond Road, SW15 6TL | 3,900,000 |
| 01/09/2014 | 76 Robin Hood Lane, SW15 3QS | 805,000 |
| 01/09/2014 | 17 Felsham Road, SW15 1AY | 999,950 |
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.
May 19, 2015
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