Hammersmith Property Sales - January 2011

---

Slow start to the year for the local house market

The latest information from the Land Registry has shown that the local property market has seen something of a slowdown so far in 2011.

Only 35 properties have been reported as being sold so far in Hammersmith W6 and at an average price of £508,533. This compares unfavourably with the average for the final quarter of 2010 which was over £600,000. It is not necessarily the case that this reflects a sharp decline in local prices, the low level of transactions makes it difficult to reach any firm conclusion about the direction of the market. The average is down mainly due to a lack of activity at the top end of the market. Only one million pound plus home has been reported as being sold so far this year compared to 7 in December 2010 alone.

According to the Land Registry London property prices are up by 3.2% in February compared to last year. Prices were down marginally on the previous month. This is still highest level in the country with the North East seeing prices fall by 7.1% in the same period. Nationally prices fell by 1.7% in February 2011 compared with February 2010.

This brings the average property price to £341,048, in comparison to the figure for England and Wales, which is £162,215.

Longer term London has also significantly outperformed the rest of the country according to the Nationwide House Price Index, with prices up 17% over the last five years. This compares to a modest 1.3% increase across the UK as a whole. Over the same period, the North was the worst performing region, with prices down 7.8%.

Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said, “Demand for homes has levelled out, supported by historically low interest rates and some stabilisation in the labour market. The continued uncertain outlook for the economy is likely to keep many potential buyers on the sidelines for some time yet. “Nevertheless, there are few signs of a glut of unsold homes building up on the market. Sellers remain reluctant to accept lower prices to secure a sale. In fact there are tentative signs that the volume of homes coming onto the market is slowing.”

The latest reported sales are given in the table below. The numbers are subject to revision as is it usual that some properties are added late to the Land Registry's database

Property Sales in Hammersmith - January 2011

Address	Price	Date
194a - 194b, Fulham Palace Road, W6 9PA	375,000	31/01/2011
Crabtree Hall, 10, Rainville Road, W6 9HB	250,000	31/01/2011
14, Flat 2, Batoum Gardens, W6 7QD	287,000	31/01/2011
130, First Floor Flat, St Dunstans Road, W6 8RA	423,000	28/01/2011
29, North Verbena Gardens, W6 9AH	374,000	28/01/2011
64, Petley Road, W6 9ST	758,000	28/01/2011
54, Biscay Road, W6 8JN	582,850	28/01/2011
188, Flat, King Street, W6 0RA	340,000	27/01/2011
7, Ground Floor Flat, Nella Road, W6 9PB	390,000	21/01/2011
26, Ground Floor Flat, Wingrave Road, W6 9HF	300,000	21/01/2011
6a, Benbow Road, W6 0AG	430,000	21/01/2011
34, Aspenlea Road, W6 8LJ	545,000	21/01/2011
12, Abbey Gardens, W6 8QR	237,500	21/01/2011
405, Flat 5, Goldhawk Road, W6 0SA	230,000	20/01/2011
Charlotte House, Flat 13, Queen Caroline Street, W6 9BU	342,000	19/01/2011
7, Oxford Gate, W6 7DA	1,275,000	19/01/2011
76, Southerton Road, W6 0PH	625,000	17/01/2011
Blades Court, 16, Flat 7, Lower Mall, W6 9DJ	649,950	14/01/2011
57, Flat B, Brackenbury Road, W6 0BG	322,500	14/01/2011
11, Silverton Road, W6 9NY	600,000	14/01/2011
17a, Benbow Road, W6 0AT	345,000	14/01/2011
Stamford Court, Flat 80, Goldhawk Road, W6 0XE	223,500	12/01/2011
31, Second Floor Flat, Overstone Road, W6 0AD	248,000	07/01/2011
20a, Stamford Brook Road, W6 0XH	809,000	07/01/2011
53, Bute Gardens, W6 7DX	765,000	06/01/2011
75, Petley Road, W6 9SU	815,000	03/01/2011

Source: Land Registry

Previous Sales in Hammersmith

June 14, 2011