Average price in SW6 dips below 700,000 pounds

The average property price in Fulham has fallen further according to the latest numbers from the Land Registry.

SW6 property prices reached an all time high average of £789,335 in the second quarter of 2011. Having fallen slightly in the third quarter they were down again in the final three months of the year by 9.4% to £697,811.

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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.

The only region in England and Wales to experience an increase in its average property value over the last 12 months is London with a movement of 2.8% to £345,298. The North East experienced the greatest annual price fall with a decrease of 7.1% and the most significant monthly price fall with a decrease of 1.9%.

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.

February 23, 2012