The London Borough of Hammersmith and Fulham has seen property prices rise by around £100,000 within twelve months. That is equivalent to a 15 per cent increase, according to research carried out by Benham and Reeves, the London estate agents. The increase has been largely attributed to the recent return to the office following several periods of lockdown, which in turn has helped drive up property prices. It’s believed many Londoners prefer to remain near to Zone 1 to help facilitate their commute to the office and enable them to enjoy a good work-life balance.
A variety of new developments have also pushed prices up in the borough
The divide within the housing market in London is evident. Neighbouring boroughs to Hammersmith, however, have seen a slight drop in prices. In Kensington and Chelsea, the cost of a home has dropped by an average of £145,000 over the past year. Property experts attribute this reduction to a number of issues connected to the COVID-19 outbreak.
How Much Have House Prices Risen on Average in Britain?
In the Kensington ward of Norland, house prices have risen by over £1m in one year. And in Notting Dale prices have climbed £552,500. The Royal Hospital ward has seen an increase of £446,000 and St Helen’s a rise of £365,000. Elsewhere, the average house price across Britain has risen in the past year, averaging around £24,000.
Micro-Markets in London Allow for a Variety of Prices
There are plenty of micro-markets all around London where you can search for a suitable property, whether it’s a flat or a family house you require. Plenty of good-value options are out there, with lots of key requirements incorporated into the package, from gardens to outside space and multiple bedrooms. According to China Daily, Chinese property hunters are turning their attention to the international markets, with London on the radar, and specifically larger homes.
What Services Are Required If You Are Moving Home?
Buyers looking to get a foot on the property ladder will require a conveyancing service. For homeowners on the move who require a Building Survey London has plenty of professionals who will be happy to cater for your requirements including www.samconveyancing.co.uk/homebuyers-survey/home-buyers-survey-london.
The Property Market Has Enjoyed a Boom
On a more granular level, there will be vast differences in prices, and it’s easy now to shop around online to discover your range of preferred areas. The property market enjoyed a surge thanks to the recent stamp duty holiday, with the boom allowing more people to get a foot on the ladder.