Hammersmith Prices Surge Even Higher

Over a third of homes selling in the area cost over one million

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Hammersmith property values have surged even higher in the second half of the year with the average price rising above £900,000.

The local residential market reached a new record high in the second quarter of last year but recent sales suggest that it has moved even higher. According to the Land Registry there have been 57 sales in the W6 post code area since the end of June at an average price of £916,524. Twenty of the sales in this period were for over a million pounds.

The highest priced sale was for a property on Rutland Grove which became the sixth most expensive ever home to change hands in the area at a price of £3,450,000.

It was followed by three houses priced over £2 million - one in Stamford Brook Avenue which fetched £2,850,000, a second in Luxembourg Gardens at £2,575,000 and a third in Bridge View which sold for £2,180,000 .

There are indications, however that this precipitous price rise may becoming to an end. A survey by the Royal Institution of Chartered Surveyors (RICS) on sentiment in the property market suggests that London prices started to fall in September for the first time in three years. This is based on a survey of their members rather than reported sales prices form the Land Registry.

The expectation amongst surveyors for the coming three months in London is that prices will fall further but that they will regain lost ground over the coming year.

A growing sense of caution seems to be indicated by a continued contraction in buyer demand. The RICS survey showed that it contracted in London for the fifth month in a row.

Simon Aldous MRICS, of Savills, said: "We do think there is uncertainty due to the forthcoming General Election and the changes that may arise to Mansion Tax, Annual Tax on Enveloped Dwellings, Capital Gains Tax, Stamp Duty. Changes to mortgage lending/regulation has softened the market in Prime South West London. "

Peter Rollings, CEO of Marsh & Parsons takes a more positive view of the changing market. He says: " This new realism in the housing market is making the buying process a much calmer and considered experience. There is more available property on the market, which has thankfully taken the heat out and has the effect of attracting people back into the mix – it’s a great time to buy and sell property, and this will keep activity on course for the remainder of the year."

The average price in London during the month of July was £457,072 which is up by 19.3% compared with the same month in 2013. For England and Wales as a whole the average is now £175,653 compared with the peak of £181,442 in November 2007 up by 7.2%.

The most up-to-date figures available show that during May 2014 the number of completed house sales in England & Wales increased by 10 per cent to 72,900 compared with 66,325 in May 2013.

The number of properties sold in England and Wales for over £1 million in May 2014 increased by 32 per cent to 1,032 from 779 in May 2013.

A regular market review of the local property scene appears on the site. You can click here for the latest update and analysis.

If your agent is claiming to be marketing your property effectively and it doesn't appear on HammersmithToday.co.uk it may be time to choose a new agent.

 

Property Sales in Hammersmith (July/August 2014)
Deed date Address Price (£)
26-Aug-14 82, The Grampians, Shepherds Bush Road, W6 7LZ
540,000
20-Aug-14 162 Hammersmith Grove, W6 7HE
840,000
15-Aug-14 139 Hammersmith Grove, W6 0NJ
500,000
15-Aug-14 Flat 77, Stamford Court, Goldhawk Road, W6 0XE
425,000
15-Aug-14 Ground Floor Studio Flat, 93 Hammersmith Grove, W6 0NQ
390,000
11-Aug-14 7 Chancellors Street, W6 9RN
1,100,000
08-Aug-14 24 Petley Road, W6 9ST
1,100,000
08-Aug-14 17, Crabtree Hall, Rainville Road, W6 9HB
361,500
07-Aug-14 47 Brackenbury Road, W6 0BG
1,825,000
07-Aug-14 81 Nasmyth Street, W6 0HA
1,385,000
07-Aug-14 22 Brecon Road, W6 8PU
1,150,000
04-Aug-14 14 Rosedew Road, W6 9ET
1,210,000
04-Aug-14 45 Richford Street, W6 7HJ
555,000
01-Aug-14 First Floor, 31 Kinnoul Road, W6 8NG
680,000
01-Aug-14 Flat 3, 27 Sulgrave Road, W6 7RD
637,000
01-Aug-14 54 Abbey Gardens, W6 8QR
415,000
01-Aug-14 Flat 38, Muscal House, Field Road, W6 8HS
295,000
31-Jul-14 24 Biscay Road, W6 8JN
1,075,000
31-Jul-14 Flat 40, Stamford Court, Goldhawk Road, W6 0XD
550,000
30-Jul-14 48 Richford Street, W6 7HP
1,460,000
30-Jul-14 12 Margravine Gardens, W6 8RH
466,000
28-Jul-14 176a King Street, W6 0RA
350,000
25-Jul-14 62 Carthew Road, W6 0DX
1,275,000
25-Jul-14 Flat 7, Oakbrook, Goldhawk Road, W6 0WU
830,000
25-Jul-14 103 Iffley Road, W6 0PD
475,000
25-Jul-14 Flat 10, N Block, Peabody Estate, Fulham Palace Road, W6 9QR
455,000
24-Jul-14 39 Nella Road, W6 9PB
1,300,000
23-Jul-14 32, Longthorpe Court, Invermead Close, W6 0QH
390,000
22-Jul-14 24 Rainville Road, W6 9HA
1,100,000
22-Jul-14 36 Poplar Grove, W6 7RE
835,000
21-Jul-14 20 Luxemburg Gardens, W6 7EA
2,575,000
21-Jul-14 23 Claxton Grove, W6 8HD
1,475,000
18-Jul-14 10 Stamford Brook Avenue, W6 0YD
2,850,000
18-Jul-14 Flat 1, 127 Sulgrave Road, W6 7QH
465,111
18-Jul-14 109, The Grampians, Shepherds Bush Road, W6 7LZ
380,000
17-Jul-14 Flat 1, 6 Rutland Grove, W6 9DH
3,450,000
16-Jul-14 6 Perrers Road, W6 0EZ
1,365,000
15-Jul-14 67 Tabor Road, W6 0BN
1,395,000
14-Jul-14 Flat 85, Stamford Court, Goldhawk Road, W6 0XE
442,000
14-Jul-14 159 Riverside Gardens, W6 9LG
431,500
11-Jul-14 57 Bridge View, W6 9DD
2,180,000
11-Jul-14 30 Silverton Road, W6 9NY
1,209,600
11-Jul-14 1a Bradmore Park Road, W6 0DS
990,000
11-Jul-14 Flat 1, Verulam House, Hammersmith Grove, W6 0NW
410,000
10-Jul-14 47 Rannoch Road, W6 9SS
1,475,000
10-Jul-14 2 Atwood Road, W6 0HX
950,000
10-Jul-14 Flat 4, 40 Prebend Gardens, W6 0XU
507,500
09-Jul-14 Flat, 38 Greyhound Road, W6 8NX
780,000
08-Jul-14 61 Westcroft Square, W6 0TA
800,000
07-Jul-14 89 Sulgrave Road, W6 7QH
702,660
04-Jul-14 5a Gastein Road, W6 8LT
557,000
04-Jul-14 Flat 114, Latymer Court, Hammersmith Road, W6 7JF
391,000
03-Jul-14 47 Banim Street, W6 0DN
780,000
01-Jul-14 141 Hammersmith Grove, W6 0NJ
641,000
01-Jul-14 Flat 62, Gooch House 63-75, Glenthorne Road, W6 0JY
425,000
01-Jul-14 Flat 2, 160 King Street, W6 0QU
350,000
01-Jul-14 Flat 1, 160 King Street, W6 0QU
295,000

 

Source: Land Registry

Previous Sales in Hammersmith

October 17, 2014