|Fulham Property Sales - December 2011|
Renewed interest in top end of market but turnover low
Figures from the Land Registry show that the average price of a Fulham property changing hands during December was £789,730.
This is a significant increase on the previous month, when prices dipped below £700,000 for the first time in a year to just £636,491.
However, with only 33 properties sold over the traditionally quiet Christmas period compared with 54 in November, it is too early to say that this marks a turnaround in the recent downward trend in local property prices.
One reason for the price surge was the far higher proportion of homes selling for over £1,000,000 during the month, with eight changing hands. Three of those were over £2,000,000, with the most expensive, in Rumbold Road, selling for £3,250,000.
It was followed by a house in Studdridge Road selling for £2,450,000 and one in Kempson Road priced at £2,300,000.
At the other end of the market, there is bad news for first time buyers as flat prices continue to soar. Just three properties were sold for under £300,000, while nine changed hands for between £300,000 and £400,000, and the same number were sold for between £400,000 and £500,000.
London was the only region in England and Wales to experience an increase in its average property value over the last 12 months with a movement of 2.8%. The North East experienced the greatest annual price fall with a decrease of 7.1%.
The December data from Land Registry's flagship House Price Index shows an annual price decrease of 1.3% which takes the average property value in England and Wales to £160,384. There is no monthly change from November to December.
The most up-to-date figures available show that, during October 2011, the number of completed house sales in England and Wales decreased by 6% to 55,309 compared to 58,634 in October 2010. The number of properties sold in England and Wales for over £1 million in October 2011 decreased by 10% to 525 from 582 in October 2010.
The latest reported sales are given in the table below.
Fulham Property Sales - December 2011
March 29, 2012