Hounslow house prices dropped in January

House prices dropped by 1.1% in Hounslow in January, new figures show.

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 0.7% annual decline.

The average Hounslow house price in January was £426,009, Land Registry figures show – a 1.1% decrease on December.

Over the month, the picture was better than that across London, where prices decreased 1.8%, but Hounslow underperformed compared to the 0.4% rise for the UK as a whole.

Over the last year, the average sale price of property in Hounslow fell by £3,000 – putting the area 29th among London’s 33 local authorities with price data for annual growth.

The best annual growth in the region was in Islington, where property prices increased on average by 13.4%, to £760,000. At the other end of the scale, properties in Tower Hamlets lost 5.1% of their value, giving an average price of £438,000.

Winners and Losers

Owners of detached houses fared worst in Hounslow in January – they dropped 1.7% in price, to £845,686 on average. But over the last year, prices rose by 1.7%.

Among other types of property:

Semi-detached: down 1.4% monthly; up 0.7% annually; £600,365 averageTerraced: down 0.9% monthly; up 0.4% annually; £514,993 averageFlats: down 1.1% monthly; down 2.3% annually; £326,592 average

First steps on the property ladder

First-time buyers in Hounslow spent an average of £378,800 on their property – £5,100 less than a year ago, but £19,000 more than in January 2017.

By comparison, former owner-occupiers paid £493,400 on average in January – 30.3% more than first-time buyers.

How do property prices in Hounslow compare?

Buyers paid 16.5% less than the average price in London (£510,000) in January for a property in Hounslow. Across London, property prices are lower than those across the UK, where the average cost £274,000.

The most expensive properties in London were in Kensington and Chelsea – £1.4 million on average, and 3.3 times as much as more than in Hounslow. Kensington and Chelsea properties cost 4.1 times as much as homes in Barking and Dagenham (£346,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in January

Hounslow: £426,009London:£510,102UK: £273,762

Annual change to January

Hounslow: -0.7%London: +2.2%UK: +9.6%

Best and worst annual growth in London

Islington: +13.4%Tower Hamlets: -5.1%