Lack of new homes be­hind ris­ing prices

Harefield Gazette - - NEWS -

PROP­ERTY prices in Hilling­don rose by an av­er­age of 13.1 per cent in 2014, Land Reg­istry fig­ures show.

The av­er­age price in the bor­ough in­creased from £284,170 in Jan­uary 2014 to £321,074 in Novem­ber – the most re­cent month for which data is avail­able.

The in­crease is greater than that of the av­er­age prop­erty price for Greater London dur­ing the same pe­riod, which was 12.7 per cent, although the av­er­age prop­erty price for Greater London was £461,453 in Novem­ber 2014.

Ac­cord­ing to prop­erty web­site Zoopla, prices in West Dray­ton grew by the small­est mar­gin in the bor­ough in 2014, at 7.9 per cent, while those in Hayes and Yead­ing ex­pe­ri­enced the great­est in­crease, at 10.6 per cent.

The Zoopla data shows that prop­er­ties in Uxbridge have the high­est av­er­age ask­ing price of any­where in the bor­ough, at £332,333, while those in Hayes and Har­ling­ton have the low­est, at £286,831.

Jeremy Was­den, owner of es­tate agents Belvoir Let­tings, pre­dicted prices in the bor­ough would vary in the short-term but were likely to con­tinue grow­ing long-term.

He said: “Pop­u­la­tion growth con­tin­ues and we are not build­ing enough dwellings to cater for that growth so that can only lead to up­wards pres­sure on house prices.”

n ON THE UP: House prices in Hilling­don bor­ough rose by an av­er­age of 13.1 per cent in 2014 which one es­tate agent put down to not enough new homes be­ing built

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.