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Ealing market set to remain buoyant for the remainder of the year

  • main chart
  • Both the Halifax and Nationwide House Price Indices for May continue to show a booming UK housing market. Based on mortgage approval data, they show annual house price inflation at a seven year high, with Nationwide recording a 10.9 % growth rate and Halifax a slightly lower 9.5%. This takes the average house price to £242,832 and £261,743 as calculated by Nationwide and Halifax respectively.

    Compared to April, the Nationwide figures show a slight slow-down in the monthly price growth, falling from 2.3% to 1.8 %. The Halifax records a smaller fall of only 0.2%, moving from 1.5% to 1.3%. Both lenders comment on a modest drop in transaction levels after the spike in March caused by the originally planned end to the stamp duty holiday.

    Both lenders comment on the continuing demand/supply imbalance. The Halifax note that demand for property continues to be strong but that stock levels have dropped in recent months and continue at a low level. Referring to figures released by the RICS, they report that the average estate agent has only 40 properties on their books. Nationwide, meanwhile, notes that their research suggests that the stamp duty holiday is only affecting the timing of a house move, rather than being the driving force behind a decision to move. They predict that low levels of stock will continue to have an upward pressure on annual house price growth.

    The continuing shift in housing priorities is commented on by both lenders. According to a survey carried out by Nationwide in late April, nearly a third of home movers were doing so in order to improve access to a garden or other outdoor space. Over 20% were looking to move to a quieter, less urban environment, although unsurprisingly, this trend was more pronounced among older age groups. The Halifax predict that a willingness to spend more money on housing in order to gain space, both indoors and out, may become a permanent change to post-pandemic lifestyles.

    There are interesting comparisons to be made between Q1 for 2021 and Q1 for2020. The Ealing area saw an average sales price in Q1 this year of £909,000 compared to £707,000 in Q1 last year, showing a year-on-year change of 28.6%. However, this change may partly be down to fewer smaller properties being sold in the later period.

    In the near future, both lenders are predicting that the market will remain buoyant due to growing confidence in economic recovery. They anticipate that the combination of increased savings, low interest rates and the ongoing shortage of housing for sale, will probably result in further acceleration in annual house price growth over the next six months.

"The market will remain buoyant due to growing confidence in economic recovery"

chart 1

Quarterly sales levels by type

In this chart we've compared sales levels for flats and houses in the last few quarters. We've opted to look at an index rather than absolute numbers, we've indexed the rates. This means that both property types start at 100 at the start of the period and you can see how they've changed since, on an equal basis.

Price volatility in recent months

Average sold prices can change a lot over a short period of time. The effect is accentuated by the small number of properties transacting in a local area. So this chart shows a lot of volatility but also represents a warts-and-all profile of recent market movements.
chart 2
chart 3

Lifecycle of our residents

You might think you know our area inside out, but this chart might make you think again. We've split the area according to where people and families are in their lifecycle. This has a big impact on the housing market with people needing different types of housing at different points in their life.

What’s going on in the market?

  • Average price for a home
  • How much have average prices changed?

    in the last year
    in the last 5 years

    What’s the average price per square foot?

    £ psf

    What’s the average price for a new home?


Sales Market in

How many homes changed hands?

in the last year

Sales numbers have changed by


Average price in England & Wales

Average price in London

By property type Apartments Terraced Semi-detached Detached

Average price

Price change

last 12 months

Proportion of all sales


Lettings Market in

What is the average rent for a house?

per month

What is the average rent for a flat?

per month

Rents have changed by

in the last 12 months

What is the average rental yield?

gross annual yield

What is the average age of local residents?

How old are first-time buyers on average?

What price point marks the top 5%?