Hammersmith Property Prices Surge Higher

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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.

The 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