|Mixed Picture for Fulham Property Prices|
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.
May 25, 2012