Property Sales in Hammersmith - May 2009

Tiny number of transactions means misery for agents

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The latest figures from the Land Registry are showing that the credit crunch is starting to have a noticeable impact on property values and volumes. Prices are down but transaction volumes have plummeted by nearly 60%

The web site Primelocation.com released figures last month claiming that sellers had increased the price of properties in the area by over 14% during January. Estate agents are looking to overseas buyers attracted by bargains presented by the weakness of sterling to provide support for the market particularly at the top end. The sale of a property in Hammersmith Terrace for over £2.5 million suggests this may not be totally wishful thinking (see table below).

The Land Registry numbers are for actual transactions rather than prices at which properties are being offered for sale so they may present a more reliable picture of the market.

The average price for a W6 property sold in the fourth quarter of last year was £452,455. This is down by 7.4% less than half the fall seen elsewhere in London and the country.

The most alarming number for estate agents is the volume figures which show that only 60 properties changed hands during the quarter. With 41 agents listed as being based in the area, significant consolidation seems likely.

The Land Registry data for January for the country as a whole shows an annual house price change of -15.1 per cent. This marks the seventeenth month in a row where the annual rate of change has fallen. This contrasts with the 21 months of uninterrupted increases in the annual rate of change between December 2005 and August 2007. Prices in London were down by 14.1% over the year.

The average property in England and Wales is currently worth £156,753 and the rate of monthly price change stands at -0.8 per cent. Sales volumes nationally have continued to decrease, with the number of sales averaging 41,014 per month in the months August to November 2008. In the same period in 2007, the average was £106,495

The numbers are subject to revision as usually some properties are added late to the Land Registry's database

Property Sales in Hammersmith

Address Price Date
10, Abbey Gardens, W6 8QR
207,500
29/05/2009
Flat 4, Westside, Ravenscourt Park, W6 0TY
400,000
28/05/2009
Second Floor Flat, 20, Batoum Gardens, W6 7QD
220,000
27/05/2009
3, Wingate Road, W6 0UR
1,000,000
27/05/2009
96, Riverside Gardens, W6 9LF
220,000
26/05/2009
9, Wellesley Avenue, W6 0UP
514,000
22/05/2009
12, Poplar Grove, W6 7RE
1,135,000
22/05/2009
Third Floor Maisonette, 4, Weltje Road, W6 9TG
280,000
22/05/2009
75, Petley Road, W6 9SU
450,000
19/05/2009
11, Hauteville Court Gardens, W6 0YF
470,000
15/05/2009
32, Raynham Road, W6 0HY
640,000
13/05/2009
19, Claybrook Road, W6 8LN
420,000
08/05/2009
58, Brackenbury Road, W6 0BD
775,000
08/05/2009
145, Claxton Grove, W6 8HB
485,000
08/05/2009
53, Delorme Street, W6 8DS
560,000
06/05/2009
44, Cardross Street, W6 0DR
635,000
05/05/2009
Flat 91, Latymer Court, Hammersmith Road, W6 7JF
190,000
01/05/2009

 

Source: Land Registry

Previous Sales in Hammersmith

November 18, 2009