Hammersmith and Fulham has experienced the second highest London house price increase this year, driven up by a lack of available housing and even higher prices in central London boroughs.

A report from the Land Registry has revealed the borough has had a 12.4 per cent increase since this time last year, bringing the average house price up to £644,588, compared to a nine per cent change in Westminster and an even lower 8.2 per cent change in notoriously pricey Kensington and Chelsea. Lambeth is the only borough to beat Hammersmith and Fulham, with a 13.1 per cent annual change.

The two central London boroughs may have higher house prices overall, with Kensington and Chelsea topping all areas of the UK with an average of £1,180,367, but Hammersmith and Fulham’s steep hike has been seen as an indication of more people wanting to move into the borough.

Jamie Lester, owner of Fulham estate agent, Haus Properties, feels Hammersmith and Fulham offers something the other boroughs now struggle to provide: a greener environment which is more family orientated. “All the local boroughs have enjoyed a continued demand from overseas investors but in Hammersmith and Fulham, the lack of stock and increasing demand has been a main contributor to rising prices,” he said.

“One of the reasons H&F has outperformed all the local boroughs is it is offering a much greener environment and an alternative for buyers. Kensington and Chelsea and Westminster both have several Royal Parks but people are starting to realise if they move half a mile down the road into Hammersmith and Fulham it’s a great place to bring up a family, with lots of green spaces, and most importantly you get a lot more for your money.”

The former contender on BBC’s The Apprentice explained people in the neighbouring borough of Kensington and Chelsea are looking at paying around £2,500 per square foot, while the average in Hammersmith and Fulham is £1,200, making it an obvious choice for families wanting larger homes with the same environment.

“For those earning less the increasing prices are a problem but there are new government initiatives like the help-to-buy scheme which is available for house prices up to £600,000 which should be feasible in Hammersmith and Fulham, with an average of just over £600,000 and plenty to buy under that price.

“This is a very good time to buy as prices are set to go up over the next five years.”

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