Mixed News for Local Property

Prices rally slightly on very low volume

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Hammersmith Property in the Second Quarter of 2008

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The third quarter numbers from the Land Registry present a mixed picture for the Hammersmith property market.

Prices have rallied slightly to rise above the £500,000 mark again for the W6 area. However, the number of transactions continues to be dire with only 69 properties changing hands in the quarter. The figures will be little comfort to an estate agency sector already in serious trouble.

Although prices are up compared with the second quarter they are down slightly compared with the same period last year. The numbers are boosted by more sales at the top end of the market. Terraced houses and flats have fallen in price.

Over the last five years Hammersmith property prices are up by 48.5%

The average house price in England and Wales stands at £180,781 in June, which is a decrease from last month. House prices in these two countries have fallen for ten consecutive months.

The average property price in London is currently £345,136, which is up 2.5% over the last year although the level has been falling for the last 5 months.

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

Hammersmith Property Prices - July - September 2008

Area Semi-Det Sales Terraced Sales Flat/Mais Sales Total Averages Total Sales
W6 0 1529710 5 687833 9 327111 18 616470 32
W6 7 0 0 0 0 396300 5 396300 5
W6 8 0 0 555868 8 305785 7 439163 15
W6 9 0 0 568833 6 369863 11 440088 17
Total 1529710 5 610889 23 343378 41 518514 69
Last quarter 45.5% 25.0% -10.8% 9.5% -4.8% -21.2% 6.9% -10.4%
Last year 8.4% 25.0% -23.8% -62.3% -0.5% -56.8% -5.0% -56.9%
Last five years 144.0% 0.0% 19.1% -68.9% 34.9% -71.3% 48.5% -68.9%

 

Source: Land Registry

 

March 3, 2009