Mixed News for Local Property

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Prices rally slightly on very low volume

The third quarter numbers from the Land Registry present a mixed picture for the Hammersmith property market.

Prices have rallied slightly to rise above the £500,000 mark again for the W6 area. However, the number of transactions continues to be dire with only 69 properties changing hands in the quarter. The figures will be little comfort to an estate agency sector already in serious trouble.

Although prices are up compared with the second quarter they are down slightly compared with the same period last year. The numbers are boosted by more sales at the top end of the market. Terraced houses and flats have fallen in price.

Over the last five years Hammersmith property prices are up by 48.5%

The average house price in England and Wales stands at £180,781 in June, which is a decrease from last month. House prices in these two countries have fallen for ten consecutive months.

The average property price in London is currently £345,136, which is up 2.5% over the last year although the level has been falling for the last 5 months.

The numbers are subject to revision as usually some properties are added late to the Land Registry's database

Hammersmith Property Prices - July - September 2008

Area	Semi-Det	Sales	Terraced	Sales	Flat/Mais	Sales	Total Averages	Total Sales
W6 0	1529710	5	687833	9	327111	18	616470	32
W6 7	0	0	0	0	396300	5	396300	5
W6 8	0	0	555868	8	305785	7	439163	15
W6 9	0	0	568833	6	369863	11	440088	17
Total	1529710	5	610889	23	343378	41	518514	69
Last quarter	45.5%	25.0%	-10.8%	9.5%	-4.8%	-21.2%	6.9%	-10.4%
Last year	8.4%	25.0%	-23.8%	-62.3%	-0.5%	-56.8%	-5.0%	-56.9%
Last five years	144.0%	0.0%	19.1%	-68.9%	34.9%	-71.3%	48.5%	-68.9%

 

Source: Land Registry

 

March 3, 2009