Average Fulham Property Price Slides from All Time High

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But value of flats in SW6 climb to highest ever level

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."

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