LONDON BOROUGHS: Hammersmith and Fulham

• Hammersmith and Fulham is a small borough in southwest London; it has the fourth-lowest population in London at just 183,478 residents.

• Despite not being part of central London, it has the fifth-highest average house price at around £792,000 (RM4.66 million), after an above-average increase last year of 17%. Compared with a decade ago, this represents an increase of 130%.

• There has been significant recent development in the area, which now has a Westfield shopping centre. The Earls Court redevelopment in the borough extends into Kensington and Chelsea. It will span 77 acres and offer 7,500 (costly) new homes, 41 acres of open space and leisure, education, health and community facilities, plus hotel, shops and private hospital.

• The rising prices in Earls Court will have a knock-on effect throughout the borough. Phase one of the redevelopment, Lillie Square, saw 225 of the 237 units sold during 2014.

• There are other large regenerations taking place throughout the area including, The Dairy Crest Site, which will offer 1,036 homes, and BBC Television Centre, which will provide 801 homes. Fulham Riverside will provide 400 units when completed and has sold well. Prices at this scheme have continued to increase throughout the live sales period, and now average £1,250 psf.

• The borough enjoys its river location, and many new build schemes offer river-facing units that achieve a significant price premium. CBRE analysis shows that this can be 10-15% compared with the same flat facing the other direction.

Source: London living: A borough by borough showcase by CBRE

Source: CBRE London

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