|Hammersmith Home Prices Move Ahead|
W6 real estate values move to all time high
A second strong quarter in a row has moved the price of the average Hammersmith property to an all-time high.
New data from the Land Registry shows that the average property in the area rose by 10% in the latest quarter.
This has increased the average price of a Hammersmith property to £388,842 the highest level recorded since this data was first published.
The price of the average home in Hammersmith has increased by 11.4% over the last year. Houses appear to be leading the way in price terms rising more rapidly than flats which are up only 4.6% over the year with new supply possibly depressing prices. The top end of the market appears to be seeing renewed activity with more larger properties changing hands and this will have significantly boosted the average.
The news for estate agents was not all good with volumes continuing to be well off peak levels. Only 176 properties changed hands in the area from July to September this year which was one of the lowest figures on record and 20% down on the same time as last year.
Hammersmith continues to lag national prices increases which are up 16.3% over the last year but prices in London underperformed W6 with a rise of just 9.7%.
Property Prices in Hammersmith Jul- Sep 2004
Source: Land Registry
November 10, 2004