City Bonuses Drive Putney House Price Rises

Average home in SW15 now costs over £400,000

 

Warren The Putney Estate Agents

Other Estate Agents in Putney

Do Catchment Areas Matter in Putney?

PutneySW15.com's property database is the most comprehensive for the area on the web - make sure your agent is listed there

Property for sale in Putney

Property to rent in Putney

Sign up for our free weekly newsletter

Comment on this story on the

The latest set of figures from the Land Registry suggest that prices of property sold in Putney have reached an all-time high. It now costs over £400,000 to buy the average home.

Once again Putney prices have outpaced elsewhere. Over the last year (up to the end of September) the average property in SW15 has risen by 14.5% against a 4.4% rise for the rest of London and a 3.5% rise nationally.

However, a closer analysis of the figures reveals a much more mixed picture with much of Putney's housing stock not seeing rises. Increases are concentrated at the top end of the market where million pound properties seem to be changing hands faster than ever.

Tthe news is not so good for flat owners as the average price for this kind of property was down by 3.3% over the same period. Terraced properties fared even worse down by 6.8% over the year.

The City based investment analyst who compiled the figures exclusively for PutneySW15.com said that bonuses in the Square Mile are clearly having an affect on the market but that most financial market professionals were now buying property on the basis of need rather than as an investment. The main cause for concern was the sharp fall in the number of flat sales which fell by 41.7% over the year. This could be taken as an indication of a first time buyers' strike.

James French (left) Associate Director of local agent Douglas & Gordon commented that; " Further to my last article the Putney sales market hasn't changed much over the last few months - the lack of supply of stock still remainis the biggest hinderance to the market and this lack of supply is causing the price increases. Hopefully the New Year will change thaings as the Spring is tradiontally is the best time of year to sell and this should free up some more property.

Putney remains ever popular and with the proposed opening of the Frankie Dettori and Marco Pierre White restaurant will continue to grow in its popularity. The cold winter days are made for long river walks and for fine lunches in the local shops and restaurants. May I take this opportunity of wishing you all a very Happy Christmas."

Putney Property Prices - July to September 2005

   Detached  Semi-Detached  Terraced  Flat/Maisonette  Overall
Av Price £ Sales Av Price £ Sales Av Price £ Sales Av Price £ Sales Av Price £ Sales
SW15 1 1341666 3 857181 11 617622 20 281529 39 503918 73
SW15 2 885000 3 773142 7 443156 16 273677 50 379491 76
SW15 3 679625 4 530291 12 476400 5 252978 35 362825 56
SW15 4 0 0 0 0 238250 4 159988 22 172028 26
SW15 5 1811142 7 522833 6 285103 14 217711 21 507882 48
SW15 6 0 0 1044300 5 390277 9 249533 40 346579 54
Overall 1298617 17 721048 41 445322 68 249230 207 400937 333
Last quarter 23.2% 142.9% -16.4% 57.7% -6.8% 11.5% -3.3% 18.3% 3.7% 23.8%
Last year 18.3% 41.7% -1.4% 32.3% -5.6% -28.4% -3.9% -41.7% 14.5% -32.5%
Last three years -10.8% -22.7% 25.7% 32.3% 13.4% -34.6% 15.4% -31.5% 18.1% -27.5%
Last five years
-7.2% 466.7% 43.5% 70.8% 41.6% -2.9% 42.1% -11.2% 67.2% 0.9%

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.

7th November 2005