Average Property Price in Fulham Now Over One Million Pounds

---

With terraced houses in Parsons Green and Hurlingham averaging over two million

The average property price in Fulham leapt above the million pound mark for the first time during the first quarter of 2014.

The average soared by 20.4% from £894, 976 between October and December 2013 to hit an all time high of £1,035,607 in this quarter.

The main reason for this huge jump in the average is the changing balance of properties being sold and the popularity of terraced houses in SW6. In the last three months of 2013, an overall total of 320 properties were sold, comprising 225 flats, 85 terraced houses, eight semi-detached and two detached homes.

This time round, in the traditionally quiet months of winter, there were 300 sales, made up of one detached and seven semi-detached houses, 191 flats and 101 terraced houses.

And while flat prices have remained stable, with the average showing only a small rise of 1.4% from £625,828 to £646,795, terraced houses have risen by 16.9% from £1,380,745 to £1,614,349.

The average price of a terraced house is now well over a million in every area of Fulham except for the postcode area SW6 3 - the Parsons Green and Hurlingham areas between Kings Road and the river, where the average price among 25 terraced houses, has reached £2,090,253.

And while only seven semi-detached houses changed hands, the average price was up by an astonishing 39.8% to reach £2,856,421.

Local estate agent Allan Fuller says this report confirms what he sees in his office on a daily basis." Fulham is one of the most sought after locations because we have a wide selection of superb property and due to our excellent communications and proximity to the centre of London," he says.

"Any commodity in a free market will find its true level, property is no different, supply and demand creates the value, after such a meteoritic rise it is inevitable that we will see the rate of values rising slow down somewhat.

"But with demand strong any possibility of a drop in value would only be if something cataclysmic should happen, otherwise Fulham, and London generally will benefit for its immense popularity. "

Over the last twelve months London as a whole has seen a rise in average values of 12.4% making it the strongest performing area in the country. The average house in the capital now costs £414,490.

For England and Wales as a whole, Land Registry figures show that the average prices is up by 5.6% over the last year to £ 169,124 although they are down compared with February.

Repossession volumes decreased by 31 per cent in January 2014 to 979 compared with 1,420 in January 2013.

The most up-to-date figures available show that during January 2014 the number of completed house sales in England & Wales increased by 46 per cent to 63,123 compared with 43,373 in January 2013.

The number of properties sold in England and Wales for over £1 million in January 2014 increased by 61 per cent to 1,011 from 628 in January 2013.

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

Fulham Property Prices (January - March 2014)
Area	Detached	Sales	Semi-detached	Sales	Terraced	Sales	Flat/ mais	Sales	Overall Ave	Overall Sales
SW6 1	0	0	0	0	1894167	3	580989	20	752273	23
SW6 2	0	0	0	0	1328579	12	727697	53	838629	65
SW6 3	0	0	0	0	2090253	25	952125	12	1721131	37
SW6 4	0	0	0	0	1795873	11	516462	31	851546	42
SW6 5	0	0	2575000	1	1613833	12	635448	21	1037806	34
SW6 6	4100000	1	3253990	5	1458269	13	600380	32	1147836	51
SW6 7	0	0	1150000	1	1243574	25	607173	22	949941	48
Total	4100000	1	2856421	7	1614349	101	646795	191	1035607	300
Change over quarter	41.4%	-50.0%	39.8%	-12.5%	16.9%	18.8%	1.4%	-26.5%	20.4%	-15.5%
Change over year			4.5%	133.3%	11.3%	0.0%	12.7%	9.1%	13.2%	7.5%
Change over three years			36.5%	40.0%	29.7%	1.0%	52.7%	24.0%	34.0%	15.8%
Change over five year			-	-	72.1%	129.5%	32.4%	377.5%	43.1%	257.1%
Change over ten years			-	-	-	-	-	-	135.6%	-

 

Fulham Property Prices (October - December 2013)
Area	Detached	Sales	Semi- detached	Sales	Terrace	Sales	Flat/ mais	Sales	Overall Ave	Overall Sales
SW6 1	-	-	-	-	1500000	1	608458	25	642748	26
SW6 2	-	-	850000	1	1219737	15	811129	63	889204	79
SW6 3	1065000	1	3250000	1	1892550	10	696875	16	1228232	28
SW6 4	4732500	1	-	-	1547751	15	616705	22	1092534	38
SW6 5	-	-	2395000	1	1561111	9	546253	27	843076	37
SW6 6	-	-	1970000	5	1244846	13	633569	36	904472	54
SW6 7	-	-	-	-	1145114	22	508306	36	749854	58
Total	2898750	2	2043125	8	1380745	85	652828	225	894976	320
Change over quarter			-21.6%	14.3%	-12.0%	-37.5%	4.1%	-17.0%	-7.6%	-22.9%
Change over year					16.5%	19.7%	20.0%	1.8%	25.5%	8.5%
Change over three years					38.0%	2.4%	59.0%	51.0%	39.9%	36.2%
Change over five years					-	-	-	-	48.0%	-
Change over ten years					-	-	-	-	106.1%	-

 

June 2, 2014