|Hammersmith Property Prices Reach New High|
And number of terraced houses changing hands has also jumped
The average property price in Hammersmith reached a new high between April and June, leaping up 13% from the previous quarter from £559,512 to £632,298.
This was just a shade above the previous all time high, which was £631, 677 reached in the fourth quarter of 2010.
This high was achieved despite no detached or semi-detached houses changing hands during the period, and the average price of terraced houses slipping from the previous quarter - when they rose by an astonishing 49.5% to reach £1,005,287.
The latest statistics showed a slight reverse, with the price average dropping by 4.9% - but still staying above the million mark at £1,001.753.
The main reason for the average price rise is the change in the types of properties being sold in Hammersmith. While the number of flat sales has stayed fairly static - 56 in spring compared with 61 the previous quarter - sales of terraced houses have risen by two thirds, jumping from 24 to 40.
Henriette Redgrave, sales manager at Douglas and Gordon says that many families are attracted to houses in Hammersmith because they get better value for money than areas like Notting Hill. But then, she says: "They are often pleasantly surprised by the village atmosphere and quality of the property they find here.
" Ravenscourt Park is another popular Hammersmith attraction, with its teashop and rose garden, and young families appreciate the good local schools closer to their Hammersmith properties."
For England and Wales as a whole meanwhile the House Price Index shows an annual price increase of 0.9% which takes the average property value in England and Wales to £161,777.
A detail listing of properties sold recently in the area will be appearing in a forthcoming edition of the Hammersmith newsletter.
Hammersmith Property Prices - January - March 2012
Source: Land Registry
August 10, 2012