Hammersmith and Fulham house prices dropped slightly in November

House prices dropped slightly, by 0.7%, in Hammersmith and Fulham in November, new figures show.

The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 6.8% annual decline.

The average Hammersmith and Fulham house price in November was £709,075, Land Registry figures show – a 0.7% decrease on October.

Over the month, the picture was different to that across London, where prices decreased 2.2%, and Hammersmith and Fulham was above the 0.8% drop for the UK as a whole.

Over the last year, the average sale price of property in Hammersmith and Fulham fell by £52,000 – putting the area 27th among London’s 33 local authorities with price data for annual growth.

The highest annual growth in the region was in Richmond, where property prices increased on average by 4.2%, to £778,000. At the other end of the scale, properties in City of London lost 27.7% of their value, giving an average price of £727,000.

First steps on the property ladder

First-time buyers in Hammersmith and Fulham spent an average of £615,000 on their property – £46,000 less than a year ago, and £28,000 less than in November 2018.

By comparison, former owner-occupiers paid £788,000 on average in November – 28.2% more than first-time buyers.

Property types

Owners of semi-detached houses saw the biggest fall in property prices in Hammersmith and Fulham in November – they dropped 2.9% in price, to £1,212,235 on average. Over the last year, prices dropped by 9.4%.

Among other types of property:

• Detached: down 1.7% monthly; down 7.8% annually; £1,320,935 average
• Terraced: down 1.7% monthly; down 7.2% annually; £1,039,862 average
• Flats: down 0% monthly; down 6.5% annually; £601,938 average

How do property prices in Hammersmith and Fulham compare?

Buyers paid 40.3% more than the average price in London (£505,000) in November for a property in Hammersmith and Fulham. Across London, property prices are high compared to those across the UK, where the average cost is £285,000.

The most expensive properties in London were in Kensington and Chelsea – £1.1 million on average, and 1.6 times the price as in Hammersmith and Fulham. Kensington and Chelsea properties cost 3.2 times the price as homes in Barking and Dagenham (£354,000 average), at the other end of the scale.

The highest property prices across the UK were in Kensington and Chelsea.

Factfile

Average property price in November

• Hammersmith and Fulham: £709,075
• London:£505,283
• UK: £284,950

Annual change to November

• Hammersmith and Fulham: -6.8%
• London: -6%
• UK: -2.1%

Highest and lowest annual growth in London

• Richmond: +4.2%
• City of London: -27.7%