|Hammersmith Property Prices Surge Higher|
Average home now worth nearly three quarters of a million
Hammersmith property prices have seen another strong move upwards according to the latest official 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.
Source: Land Registry
November 27, 2012