Average Fulham Property Price Slides from All Time High

But value of flats in SW6 climb to highest ever level

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Fulham Property in the Third Quarter of 2013

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The average property price in Fulham slipped back in the fourth quarter of 2013 - but the value of flats continued to climb.

The overall average fell by 7.6% from £969,089 in the previous quarter to £894,976. However this figure was still up by 25.5% over the year.

While house prices retreated as temperatures dropped - semi-detached homes by 21.6% from £2,606,586 to £2,043,125 and terraced homes by 12% from £1,568,307 to £1,380,745 -flat prices continued to rise, up by 4.1% to reach all time high average of £652,828.

The very top of the market also continued to thrive. A semi-detached house in Fulham Park Gardens changed hands for £4,732,500, making it SW6's third most expensive home and the highest priced house - the two higher priced properties were apartments in upmarket developments.

A house on Quarrendon Street, meanwhile sold for £4,275,000, becoming Fulham's most expensive ever terraced property.



Quarrendon Street

This looks set to continue in 2014 with wesbite Rightmove listing 20 homes priced over £3 million in the Fulham area, eight with price tags of above £4 million.

Estate agent Marsh and Parsons' figures for the fourth quarter of 2013 show that Fulham was one of the hotspots in areas it calls the Outer Prime London villages, along with Barnes, Clapham, Battersea and Balham, all outpacing Prime Central London - areas like Chelsea and Notting Hill.

Marsh and Parsons' Alex Lyle says: " The 2013 property market in SW6 was defined by a limited supply of property for sale and a growing number of buyers coming to the market.

"The highest price rises we have seen are the freehold houses, which have risen by at least 15%, and in some cases, by as much as 20% for the most premium properties, for example in the Moore Park Estate and Alphabet Streets."

He adds: " As we move into the Spring property market, we expect prices to remain high, with some price increases, albeit not at the same rate as last year."

Fulham property

The December data from Land Registry's House Price Index shows that London remains the best performing property market in England and Wales. The average price of a home in the capital rose by 11.2% over the year to £403,972.

For the country as a whole prices rose by 4.4% which takes the average property value in England and Wales to £167,353. Repossession volumes decreased by 28 per cent in July 2013 to 1,187 compared with 1,645 in July 2012.

The most up-to-date figures available show that during October 2013 the number of completed house sales in England & Wales increased by 21 per cent to 71,929 compared with 59,213 in October 2012. The number of properties sold in England and Wales for over £1 million in October 2013 increased by 40 per cent to 913 from 651 in October 2012.

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

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% -

 

Fulham Property Prices (July - September 2013)
Area Detached Sales Semi-detached Sales Terraced Sales Flat/
mais
Sales Overall Ave. Overall Sales
SW6 1 0 0 0 0 1445003 6 547169 54 636952 60
SW6 2 0 0 0 0 1242826 21 743666 56 879801 77
SW6 3 0 0 3550000 1 2262875 32 829639 32 1577084 65
SW6 4 0 0 0 0 1688643 21 576378 28 1053063 49
SW6 5 710000 1 0 0 1651906 16 578111 18 1072757 35
SW6 6 0 0 2449350 6 1338214 14 597451 53 891726 73
SW6 7 0 0 0 0 980056 26 465861 30 704595 56
Total 710000 1 2606586 7 1568307 136 627034 271 969089 415
Change over quarter 138.0% 600.0% 6.8% 17.2% 1.6% 36.9% 4.0% 31.7%
Change over year - - 15.2% -0.7% 20.1% 46.5% 9.5% 27.7%
Change over three years 44.0% -7.5% 38.0% 53.1% 27.3% 26.1%
Change over five years 30.3% -
Change over ten years 123.4% -


February 24, 2014

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