Hammersmith Property Prices Reach New High

And number of terraced houses changing hands has also jumped

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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."

The Land Registry figures show that buying a house or flat in W6 is a very sound long term investment, with prices over the last ten years prices almost doubling. To be precise, they have risen by 99.8%.

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 - April - June 2012

Area Terraced Sales Flat/Mais Sales Total Averages Total Sales
W6 0 1097792 16 387833 20 703370 36
W6 7 1916250 4 294202 14 654657 18
W6 8 756222 9 374000 11 546000 20
W6 9 730404 11 421909 11 576157 22
Total 1001753 40 368402 56 632298 96
Last quarter -4.9% 66.7% 5.6% -8.2% 13.0% 9.1%
Last year 11.9% 0.0% 4.1% 0.0% 0.9% -4.0%
Last three years 76.4% 81.8% 19.5% 86.7% 45.8% 74.5%
Last five years 38.7% -25.9% 7.9% -50.4% 36.1% -42.5%
Last ten years 121.3% -48.7% 65.1% -55.6% 99.8% -54.1%

 

Hammersmith Property Prices - January - March 2012

Area Semi-Det Sales Terraced Sales Flat/Mais Sales Total Averages Total Sales
W6 0 895000 3 1155000 13 338856 23 653684 39
W6 7 0 0 0 0 326636 11 326636 11
W6 8 0 0 614166 3 376944 9 436250 12
W6 9 0 0 1052675 8 360775 18 573667 26
Total 895000 3 1053287 24 348740 61 559512 88
Last quarter -14.1% -40.0% 49.5% -40.0% -7.1% -35.1% 13.3% -36.7%
Last year -13.7% 0.0% 28.7% -27.3% 4.9% 13.0% 4.8% -2.2%
Last three years - - 47.6% 33.3% 20.7% 281.3% 8.9% 158.8%
Last five years -10.3% -40.0% 49.0% -51.0% 14.9% -35.8% 21.8% -40.9%
Last ten years 141.2% -50.0% 127.1% -53.8% 66.6% -12.9% 74.7% -31.3%

 

 

Source: Land Registry

 

August 10, 2012