Mixed Picture for Fulham Property Prices

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Latest figures show winners and losers across SW6

The average property price in Fulham is continuing to drift lower so far this year according to the latest figures from the Land Registry.

Transactions reported for 2012 have averaged £693,217 - well below the peak of the market of £789,000 reached in the second quarter of 2011.

The average price has also dropped slightly from last quarter, when it was £697,811.

However, looking beyond these overall figures there is better news for SW6. Price falls are not consistent across different types of property, or different areas of Fulham.

The average flat price has risen by a small 1.1% over the last quarter, but a more substantial 8% compared with this time last year. However within Fulham there are wide variations, with some postcode areas - SW6 2, 4 and 7 - showing price falls, while the other four postcode areas record large rises.

The biggest jump was in SW6 3 - the Hurlingham area to the south of New Kings Road - where the average rose from £599,746 at the end of last year to £655,000 in the first three months of this year.

Terraced houses showed a similar mixed picture, with postcodes SW6 2, 4 and 7 recording price drops, but other postcodes showing substantial rises. In SW6 6 - the area to the west of Fulham Palace, including the ABC streets - the average soared from £855,980 in the previous quarter to £1,013.871.

The overall average house price rose by 4% compared with the previous quarter, though it was still down by 5.1% on the previous year. Looking longer term however, the trend is firmly upward, with the average house price climbing by over a quarter - 25.9% to be exact - over the last three years.

Looking at the wider picture, he March data from Land Registry's flagship House Price Index shows an annual price decrease of 0.6% which takes the average property value in England and Wales to £160,372. London remains the best performing area in the country with prices rising by 0.7% to £343,522 over the same period.

The most up-to-date figures available show that, during January 2012, the number of completed house sales in England and Wales increased by 13% to 42,511 compared to 37,584 in January 2011.

Fulham Property Prices - January - March 2012
Area	Terraced	Sales	Flat/Mais	Sales	Total Averages	Total Sales
SW6 1	806166	6	421344	19	513701	25
SW6 2	1011375	14	463177	62	564161	76
SW6 3	1639384	17	655000	6	1382588	23
SW6 4	1336950	10	412466	22	701367	32
SW6 5	1527250	10	429214	10	978232	20
SW6 6	1013871	16	513319	34	673496	50
SW6 7	787571	14	402275	27	533839	41
Total	1181100	87	457407	180	693217	267
Change over quarter	4.0%	-17.9%	1.1%	-4.8%	-0.7%	-9.5%
Change over year	-5.1%	-13.0%	8.0%	16.9%	-10.3%	3.1%
Change over three years	25.9%	97.7%	-6.3%	350.0%	-4.2%	217.9%
Change over five years	-	-	-	-	20.1%	-
Change over ten years	-	-	-	-	87.2%	-

 

Fulham Property Prices - October - December 2011
Area	Terraced	Sales	Flat/Mais	Sales	Total Averages	Total Sales
SW6 1	0	0	399182	23	399182	23
SW6 2	1097969	15	463650	48	614678	63
SW6 3	1458934	15	599746	13	1060025	28
SW6 4	1428678	19	444979	19	936829	38
SW6 5	1185894	19	403542	20	784688	39
SW6 6	855980	16	484603	31	611029	47
SW6 7	845656	22	421215	35	585034	57
Total	1135194	106	452507	189	697811	295
Change over quarter	-3.5%	-22.6%	-3.5%	-4.5%	-9.4%	-13.2%
Change over year	13.4%	27.7%	10.2%	26.8%	9.1%	25.5%
Change over three years					15.4%	-
Change over five years					35.6%	-
Change over ten years					100.8%	-

May 25, 2012