Hammersmith Property Prices Bounce Back in Spring

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With the average semi-detached house now above two million pounds

Hammersmith prices are on the up again, after a slump in the chilly early months of 2013 - though the average is still well below the peak reached in summer last year when it was just short of £750,000.

The latest Land Registry figures show the total average was up a healthy 10.5% in the second quarter of the year, rising from £618,555 to £683,734.

The figures also show that it is the top end of the market which is performing most strongly. While the average price of flats slipped by a small 1.1% from £411,730 to £407,164, terraced houses jumped back over the million mark from £997,733 between January and March to an average of £1,104,730.

The best news for local agents however, is that after six months with no semi-detached houses recorded as sold, five changed hands in this quarter, with an average price of £2,033,000.

This compares with three semi-detached properties being sold with an average price of just £1,213,631 between July and September last year.

The statistics also contained one other piece of cheering news for Hammersmith's estate agents. While the winter weather kept buyers indoors in the first quarter, with just 68 sales being recorded, it bounced back in spring, almost doubling to 119.

The June data from Land Registry's House Price Index shows that London
saw a sharp rise in prices during the month up by 3.1% compared with May.

It remains the best performing property market in England and Wales rising by 6.9% over the last year to £383,930.

For the country as a whole prices only rose by 0.8% over the year which takes the average property value in England and Wales to £162,621.

The most up-to-date figures available show that during April 013, the number of completed house sales in England and Wales increased by 12 per cent to 48,367 compared with 43,252 in April 2012.

The number of properties sold in England and Wales for over £1 million in April 2013 increased by 45 per cent to 703 from 484 in April 2012.

The West Midlands was the only region to see an increase (8 per cent) in repossession sales between April 2012 and April 2013. The region with the greatest fall in the number of repossession sales was London where repossessions dropped by 37 per cent (April 2013 compared with April 2012).

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

 

Hammersmith Property Prices (April - June 2013)
Area	Detached	Sales	Semi-Det	Sales	Terraced	Sales	Flat/Mais	Sales	Total Averages	Total Sales
W6 0	0	0	2,372,500	4	1,224,545	11	446,990	31	800,363	46
W6 7	0	0	0	0	1,475,714	7	411,321	14	766,119	21
W6 8	775,000	1	0	0	889,369	11	355,903	18	565,477	30
W6 9	0	0	675,000	1	847,083	6	382,493	15	522,495	22
Total	775,000	1	2,033,000	5	1,104,730	35	407,164	78	683,734	119
Last quarter	-	-	-	-	10.7%	45.8%	-1.1%	77.3%	10.5%	75.0%
Last year	-	-	-	-	10.3%	-12.5%	10.5%	39.3%	8.1%	24.0%
Last three years	-	-	103.2%	66.7%	29.4%	-12.5%	17.7%	16.4%	24.7%	8.2%
Last five years	-	-	93.4%	25.0%	61.3%	66.7%	12.9%	50.0%	41.0%	54.5%
Last ten years	-	-	178.0%	0.0%	128.1%	-20.5%	52.5%	-1.3%	90.0%	-7.0%

 

Hammersmith Property Prices (January - March 2013)
Area	Terraced	Sales	Flat/Mais	Sales	Total Averages	Total Sales
W6 0	1156409	11	427853	16	724672	27
W6 7	0	0	437863	11	437863	11
W6 8	763166	6	392070	14	503399	20
W6 9	949442	7	321666	3	761109	10
Total	997733	24	411730	44	618555	68
Last quarter	-7.1%	-27.3%	-0.8%	-22.8%	-5.8%	-24.4%
Last year	-5.3%	0.0%	18.1%	-27.9%	10.6%	-22.7%
Last three years	11.6%	-45.5%	23.8%	-6.4%	2.4%	-25.3%
Last five years	14.2%	-11.1%	5.3%	-29.0%	15.1%	-23.6%
Last ten years	121.3%	-52.9%	70.1%	-45.7%	91.7%	-48.5%

 

 

 

 

Source: Land Registry

 

August 23, 2013