Hammersmith Property Prices - October 2010

Two million pound plus properties drive the market up

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The latest figures on Hammersmith property sales suggest the market has remained strong during the Autumn.

Since the end of the third quarter of 2010 sale prices have averaged £648,596, which is a significant increase on the previous three months.

However, the higher average is being driven by transactions at the top end of the market including three homes that sold for over £2,000,000 - in St Peter's Square, Beauclerc Road and Stamford Brook Avenue. Without these sales, the average is similar to the previous period.

At the other end of the market, just two flats, in Hamlet Gardens and Rainville Court in Rainville Road, changed hands at under £200,000, though five were sold for under £250,000, making Hammersmith still relatively affordable for first time buyers.

Local agents remain positive about the property outlook in 2011. Alex Maile, MD of Lawson Rutter says: " The local property market has shown remarkable resilience and following a pretty busy start to the year it seems this is set to continue.

" We’re still seeing great appetite from people who want to move and once you put that against a couple of positive indicators, namely mortgage applications in London almost doubled last year and first time buyer affordability was at a 12 year high you can really only see the market going one way on the back of renewed confidence."

John Horton of Horton & Garton in King Street is slightly more cautious, warning that prices could be 'choppy' in months ahead. He says: " A stable and even 2011 would be a sound 2011.

"I feel that all estate agents should be realistic and not too pessimistic."

And looking at his local area, he adds: " Brackenbury Village, Ravenscourt Park, Stamford Brook and Wendell Park will remain popular for local buyers."

According to the Land Registry, London property prices are up by 6.8% in November compared to last year. This is the slowest annual rise in 2010 but remains the highest level in the country.

This brings the average property price to £341,009, in comparison to the figure for England and Wales, which is £164,773.

For the country as a whole November's data shows a fall of 0.6%. This is the third consecutive month in which prices have fallen. The annual house price growth rate has continued to decline for the sixth month in a row, with an increase of 2.2%. This is the smallest growth seen in 12 months.

Nationwide's House Price index for December which is based on offer prices rather than actual sales like the Land Registry did show an increase.

Martin Gahbauer, Nationwide's Chief Economist, said: "When house prices are trending down only modestly rather than decisively as has been the case in recent months it is not unusual to a see a mixed pattern of monthly declines and occasional increases."

He added: " London and the South East saw particularly large price gains during this period (2010), as the scarcity of property was most acute in these regions. London will also have benefited from the strong recovery in the financial sector, which is an important driver of buyer confidence and housing demand in the capital."

The latest reported sales are given in the table below. The numbers are subject to revision as is it usual that some properties are added late to the Land Registry's database

Property Sales in Hammersmith - October 2010

Address Price Date
8, Chancellors Street, W6 9RN
710,000
29/10/2010
14, Flat 2, Verbena Gardens, W6 9TP
215,000
29/10/2010
9, Beauclerc Road, W6 0NR
2,256,000
29/10/2010
20, Aspenlea Road, W6 8LJ
415,000
29/10/2010
76, Bradmore Park Road, W6 0DT
795,000
28/10/2010
60, Ground Floor Flat, Biscay Road, W6 8JN
225,000
28/10/2010
40, Sulgrave Gardens, W6 7RA
282,000
28/10/2010
Kings Court, Flat 44, Hamlet Gardens, W6 0RN
205,000
27/10/2010
16, Rannoch Road, W6 9SR
665,000
26/10/2010
32, Raynham Road, W6 0HY
750,000
26/10/2010
Latymer Court, Flat 189, Hammersmith Road, W6 7JQ
485,000
25/10/2010
18, Top Floor Flat, Poplar Grove, W6 7RE
499,950
23/10/2010
14, Wellesley Avenue, W6 0UP
550,000
22/10/2010
11, Musard Road, W6 8NR
770,000
22/10/2010
3, Flat 1, Bothwell Street, W6 8DY
275,000
21/10/2010
38, Bradmore Park Road, W6 0DT
673,000
19/10/2010
51, First Floor Flat, Winslow Road, W6 9SF
360,000
15/10/2010
The Square, Flat 42, Peabody Estate, W6 9PX
212,500
15/10/2010
54, First Floor Flat, Weltje Road, W6 9LT
405,000
15/10/2010
69b, Tabor Road, W6 0BN
450,000
15/10/2010
12, Stamford Brook Avenue, W6 0YD
2,150,000
15/10/2010
9, St Peters Grove, W6 9AY
650,000
15/10/2010
Rainville Court, 147, Rainville Road, W6 9HN
380,000
14/10/2010
224, Flat 1, Hammersmith Grove, W6 7HG
436,250
14/10/2010
76, Top Floor Flat, Biscay Road, W6 8JN
448,000
13/10/2010
Rainville Court, 146, Rainville Road, W6 9HN
145,000
12/10/2010
Blades Court, 16, Flat 2, Lower Mall, W6 9DJ
542,500
12/10/2010
60, Perrers Road, W6 0EZ
650,000
11/10/2010
6, Barb Mews, W6 7PA
250,000
11/10/2010
66, Brackenbury Road, W6 0BD
955,000
08/10/2010
9a, Rosedale Terrace, W6 0HF
445,000
08/10/2010
50, Musard Road, W6 8NW
695,000
08/10/2010
59, Tasso Road, W6 8LY
800,000
07/10/2010
53a, Brackenbury Road, W6 0BG
694,198
06/10/2010
105a, Brackenbury Road, W6 0BQ
820,000
04/10/2010
39, Flat 1, Southerton Road, W6 0PH
366,000
01/10/2010
99, First Floor Flat, St Dunstans Road, W6 8RE
400,000
01/10/2010
2, Rowan Terrace, W6 7DZ
825,000
01/10/2010

Source: Land Registry

Previous Sales in Hammersmith

May 3, 2011