|Hammersmith Property Prices in August 2010|
Average house price in W6 remains above £600,000
During August the average transaction took place at £627,043 which was slightly below the record levels seen earlier in the Summer.
Properties at the top end of the market are still seeing good demand with 7 homes changing hands for over £1,000,000.
Average prices in London as a whole were up by 0.9% in August according to the Land Registry, which brings them to £345,734. This is the sixth month in a row in which the capital's monthly movement has been greater than zero. Compared to August last year prices are up by 11.4% the strongest annual growth experienced by any region in England and Wales.
The Land Registry's House Price Index for August was up by 0.3% the fifth month in a row in which the movement has been positive. This changes the average property value in England and Wales to £167,423. The annual house price change has now remained positive for ten consecutive months, with a movement of 6.7% in August.
More recent figures from the Halifax House Price Index suggest that home values nationally fell back during September. These numbers are based on offer prices rather than actual achieved sale prices.
Commenting on the Halifax House Price Index, Simon Rubinsohn, Royal Institution of Chartered Surveyors chief economist said, “The latest numbers from Halifax provide further evidence that house prices are easing after the strong gains seen through the latter part of 2009 and the early part of 2010. That said, the 3.6 per cent drop in this index in September undoubtedly highlights the extent of the softer trend in prices. On a month by month basis, house prices are always going to display a degree of volatility and in an environment in which transactions activity is subdued this is going to be even more pronounced."
He added, “RICS expects prices to slip a little further over the coming months, but despite the prospect of public spending cuts we believe the risk of large house price falls remains relatively limited.”
The latest reported sales are given in the table below.
The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database.
Property Sales in Hammersmith - August 2010
Source: Land Registry
January 18, 2011