|Onward and Upward for Hammersmith House Prices|
W6 home values buck the trend elsewhere and continue to rise
Property prices in Hammersmith have continued to rise, according to the latest official figures from the Land Registry.
The average sale price of W6 homes in the fourth quarter of last year reached 631,677, the highest quarterly average on record, and a rise of 6% from the previous quarter.
Average property values in Hammersmith are now above those for Chiswick, and the price rise is bucking the local trend as other parts of West London including Putney and Chiswick recorded falling prices between October and December.
Over the last year, prices have soared by 28.2% although a closer look at the figures show that this rise is in part driven by a change in the mix of sales, with proportionally more houses being sold than flats.
Over the year both terraced house and flat prices are up by around 18%. In the last quarter, house prices are up by 16.2% to be on the up but flat prices were down by 4.4%.
The average price of a house in Hammersmith has climbed over £1million, while the average price of a flat or maisonette is £364, 253.
Over the last three years, prices have risen by 29.3% but volumes have dropped dropped by over a quarter.
London as a whole remains by far and away the strongest area in the country in price terms with home values rising by 6.2% in December compared to the same month in 2009. The average London property now costs £342,325.
For England and Wales as a whole property prices rose by 1.5% with many areas of the north seeing falling values over the year. The average home price in the U.K. is now £163,814.
Hammersmith Property Prices - October - December 2010
Source: Land Registry
April 19, 2011