|SW6 Property Prices Continue to Soar|
High demand for houses worth a million pounds plus
Fulham property continues to see a strong price performance judging by the latest figures from the Land Registry.
So far this year the average price in the SW6 area has leapt by over £100,000 to hit £787,706 compared to £680,509 in the fourth quarter of 2009.
And out of 33 properties reported as sold in February, ten changed hands for over £1,000,000.
At the other end of the market, meanwhile bargain buys are increasingly hard to find in Fulham, with just one flat priced under £250,000 and three under £300,000.
In February, London's annual house price change according to the Land Registry index was a positive 11.9 per cent, which is an increase from last month's figure, and the fifth month in a row in which the movement has been positive. It was also the strongest growth of any region. The average for Wandsworth Borough was up by 7.9 per cent.
The average value of a property in London is now £333,394, which is a decrease from last month.
For the country as a whole there was an annual increase of 7 per cent. This is the fourth month in a row in which the annual movement has been positive. The monthly house price change is negative this month, at -0.3 per cent. This brings the average house price in England and Wales to £164,455.
The Rightmove House Price Index for February 2010 reveals that average asking prices increased by over £7,000 in the past month. This is the largest monthly increase since April 2007 and represents a year-on-year increase of 6.1%. In London they are showing the highest ever level of asking prices.
Miles Shipside, commercial director of Rightmove comments: "A price jump of over 3% is more comparable to the pre-credit-crunch boom-times. Sellers are setting their sights higher, and some agents are going along with them in order to win scarce instructions. Property for sale remains scarce in popular areas, but new supply to the market has to be priced at what buyers are willing and able to pay. An average increase of over 7,000 pounds may prove to be a bit too spicy for some buyers' tastes, now that economic constraints have forced them to develop a simpler palate."
See table below for full list of sales.
The numbers below are subject to revision as is it usual that some properties are added late to the Land Registry's database.
Fulham Property Sales - February 2010
April 9, 2010