Hammersmith Property Prices Surge Higher

Average home now worth nearly three quarters of a million

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Hammersmith property prices have seen another strong move upwards according to the latest official figures.

hammersmith property pricesThe average price of a home in the W6 post code area changing hands in the third quarter of 2012 was £744,735 says Land Registry figures.

This is up by 17.8% compared with the previous three months which itself saw a record high figure. Compared with the same period last year prices are up by 25.4% and have now more than doubled over the last decade.

It is terrace houses which are seeing the strongest price move and they are substantially outperforming local flats over the longer term.

The news for estate agents is not all good with volumes down on this time last year and currently just about half the number of properties are being sold compared with ten years ago.

London was the region in England and Wales which experienced the greatest increase in its average property value over the last 12 months with a movement of 5.5 per cent.

The September data from Land Registry's flagship House Price Index shows an annual price increase nationally of 1.1 per cent which takes the average property value in England and Wales to £162,561.

The most up-to-date figures available show that during July 2012, the number of completed house sales in England and Wales decreased by 9 per cent to 56,509 compared with 62,303 in July 2011.

 

The number of properties sold in England and Wales for over £1 million in July 2012 increased by 13 per cent to 817 from 725 in July 2011.

A detail listing of properties sold recently in the area will be appearing in a forthcoming edition of the Hammersmith newsletter.

Hammersmith Property Prices - July - September 2012
Area Semi-Det Sales Terraced Sales Flat/Mais Sales Total Averages Total Sales
W6 0 1213631 3 1144533 18 429687 24 767888 45
W6 7 0 0 1767727 11 419435 20 897861 31
W6 8 0 0 793855 9 346329 12 538126 21
W6 9 0 0 1376699 5 360583 12 659441 17
Total 1213631 3 1257553 43 399767 68 744735 114
Last quarter - - 25.5% 7.5% 8.5% 21.4% 17.8% 18.8%
Last year -12.4% -57.1% 45.4% -12.2% 15.5% -10.5% 25.4% -13.6%
Last three years - - 55.7% 2.4% 31.6% 15.3% 45.1% 12.9%
Last five years -14.0% -25.0% 56.9% -29.5% 15.9% -28.4% 36.5% -28.8%
Last ten years 100.3% -40.0% 159.3% -46.3% 58.6% -51.1% 117.1% -49.1%

 

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%

 

 

 

Source: Land Registry

 

November 27, 2012