Hammersmith and Fulham Property Market Suffers Sharp Decline of 23.6% in 2016

28. March 2017 11:29 / VInsights Team / West London / Comments (0)

Story Highlights

  • Hammersmith and Fulham  had total Property Sales of £2.39 billions in 2016
  • The total number of properties sold in year 2016 was 2,414
  • The Average property price was £991 K, while Median was £703 K
  • Not New Property contributed 84.97% and New Property 15.03% by sales value
  • Stamp duty changes caused monthly spike in March
  • Brexit coupled with Stamp Duty changes caused a very significant decline of 23.6% in total sales compared to 2015

 

Hammersmith and Fulham is one of the Boroughs of West London. It had total Property Sales of £2.39 billions which was 17.04% of West London Property Market 2016.

 

Total Sales By Property Type

Hammersmith and Fulham 2016 - Total Sales By Property Type

The split of £2.39 billions across the different property types are:

  • Flat/Maisonette: £1.22 billions (51.07%)
  • Terraced: £799 millions (33.41%)
  • Other: £288 millions (12.05%)
  • Semi-Detached: £73 millions (3.06%)
  • Detached: £10 millions (0.41%)

Year on Year Comparison : Compared to Hammersmith and Fulham Property Market 2015 in 2016

  • All the property types have shown decline in sales except Semi-Detached.
  • Total sales value declined by 23.62% in 2016 compared to 2015

 

Hammersmith and Fulham Property Market at Postcode Level

Postcode 

 Coverage Area         

  Local Authority Area
NW10

Willesden district: Willesden, Harlesden, Kensal Green, Brent Park, College Park, Stonebridge, North Acton (part), West Twyford, Neasden (south), Old Oak Common, Park Royal (north)

 Brent, Ealing, Hammersmith and Fulham, Kensington and Chelsea
SW6

Fulham, Parsons Green

 Hammersmith and Fulham
SW10

West Brompton, Chelsea (west)

 Hammersmith and Fulham, Kensington and Chelsea
W3

Acton, West Acton, North Acton (part), South Acton, East Acton (west), Park Royal (south), Hanger Hill Garden Estate, Gunnersbury Park

 Ealing, Hounslow, Hammersmith and Fulham
W4

Chiswick, Gunnersbury, Turnham Green, Acton Green, South Acton (part), Bedford Park

 Hounslow, Ealing, Hammersmith and Fulham
W6

Hammersmith, Ravenscourt Park, Stamford Brook (part)

 Hammersmith and Fulham, Hounslow
W10

North Kensington, Kensal Town, Ladbroke Grove (north), Queen's Park (part)

 Kensington and Chelsea, Westminster, Hammersmith and Fulham, Brent 
W11

Notting Hill, Ladbroke Grove (south), Holland Park (part)  

 Kensington and Chelsea, Westminster, Hammersmith and Fulham
W12

Shepherds Bush, White City, Wormwood Scrubs, East Acton (east)

 Hammersmith and Fulham
W14

West Kensington, Kensington Olympia, Holland Park

 Hammersmith and Fulham, Kensington and Chelsea

 

 

 

Month-wise Break-up of Total Sales

Hammersmith and Fulham 2016 - Month-wise Break-up of Total Sales

Stamp Duty Hike Impact

  1. March had property sale spike of £468 millions  compared to £179 millions in Feb 
  2. The impetus for it was to avoid the extra 3% in Stamp Duty Tax applicable on buying an additional home, being applicable from April 1 2016

Brexit Impact

  1. Brexit took place on 23rd June 2016.
  2. As can be observed from the month-wise break-up there seem to have been significant dip in property sales in the immediate aftermath of Brexit 
  3. Year on Year the property market for Hammersmith and Fulham has declined by 23.62% over 2015

 

 

Total No Of Properties Sold By Property Type

Hammersmith and Fulham 2016 - Total No Of Properties Sold By Property Type

 

The total number of properties sold in Hammersmith and Fulham 2016 was 2,414

  • Detached 7 (0.29%)
  • Semi-Detached 40 (1.66%)
  • Terraced 544 (22.54%)
  • Flat/Maisonette 1,689 (69.97%)
  • Other 134 (5.55%)

Year on Year Comparison : Compared to Hammersmith and Fulham Property Market 2015  in 2016

  • Total number of property sales in Hammersmith and Fulham has declined by 14%
  • All property types have shown decline in number of properties sold except property type Other, Semi-Detached
  • Other has shown significant increase  of 11.67% in 2016

 

 

Average & Median Sales Price

Hammersmith and Fulham 2016 - Average & Median Sales Price

 

In 2016 the average property price was £991 K in Hammersmith and Fulham. The average property price for the different property types are:

  • Detached: £1.41 millions
  • Flat/Maisonette: £724 K
  • Other: £2.15 millions
  • Semi-Detached: £1.83 millions
  • Terraced: £1.47 millions.

The median property price was £703 K. The median property price for the different property types are:

  • Detached: £1.1 millions
  • Flat/Maisonette: £600 K
  • Other: £500 K
  • Semi-Detached: £1.68 millions
  • Terraced: £1.3 millions

Year on Year Comparison : Compared to Hammersmith and Fulham Property Market 2015 in 2016

  • The average and median sales price across all property types have gone down except Semi-Detached, Terraced.

 

 

New Vs Not New Property Statistics

Hammersmith and Fulham 2016 - New Vs Not New Property Statistics

By Value Of Sales

  • The sales value contributed by New Property was £360 millions (15.03%)
  • where as Not New Property contribute £2.03 billions (84.97%)

By Number Of Sales

  • New properties sold were 335 (13.88%)
  • where as not new property sold were 2,079 (86.12%).

Year on Year Comparison : Compared to Hammersmith and Fulham Property Market 2015  in 2016

  • New property market share in property market has gone slightly up in 2016 over 2015

  

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