Hammersmith and Fulham house prices increased more than London average in June

House prices increased by 3.3% – more than the average for London – in Hammersmith and Fulham in June, new figures show.

The rise contributes to the longer-term trend, which has seen property prices in the area grow by 4.9% over the last year.

The average Hammersmith and Fulham house price in June was £772,447, Land Registry figures show – a 3.3% increase on May.

Over the month, the picture was different to that across London, where prices increased 1.9%, and Hammersmith and Fulham was above the 1% rise for the UK as a whole.

Over the last year, the average sale price of property in Hammersmith and Fulham rose by £36,000 – 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 Kensington and Chelsea, where property prices increased on average by 12.2%, to £1,362,000. At the other end of the scale, properties in Camden gained 1.9% in value, giving an average price of £830,000.

An imbalance between supply and demand for properties has remained the primary reason behind climbing house prices across the UK throughout the pandemic.

But activity is starting to slow, with soaring inflation putting household budgets under pressure.

First steps on the property ladder

First-time buyers in Hammersmith and Fulham spent an average of £672,200 on their property – £27,600 more than a year ago, and £4,000 more than in June 2017.

By comparison, former owner-occupiers paid £854,100 on average in June – 27.1% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Hammersmith and Fulham in June – they increased 3.3%, to £656,588 on average. Over the last year, prices rose by 3.9%.

Among other types of property:

Detached: up 2.1% monthly; up 10% annually; £1,432,182 averageSemi-detached: up 2.7% monthly; up 9.1% annually; £1,344,809 averageTerraced: up 3.3% monthly; up 6.9% annually; £1,127,602 average

How do property prices in Hammersmith and Fulham compare?

Buyers paid 43.6% more than the average price in London (£538,000) in June for a property in Hammersmith and Fulham. Across London, property prices are high compared to those across the UK, where the average cost £286,000.

The most expensive properties in London were in Kensington and Chelsea – £1.4 million on average, and 1.8 times as much as more than in Hammersmith and Fulham. Kensington and Chelsea properties cost four times as much as homes in Barking and Dagenham (£342,000 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 June

Hammersmith and Fulham: £772,447London:£537,920UK: £286,397

Annual growth to June

Hammersmith and Fulham: +4.9%London: +6.3%UK: +7.8%

Highest and lowest annual growth in London

Kensington and Chelsea: +12.2%Camden: +1.9%