Hi Jasper,
Had I had anything to compare I would have jumped right in presenting it.
The origin of the style of decoration is Northern Italy, early 16th c.
When judging the age of both styles and weapons, please keep in mind that basically there were handcrafted styles first which later turned into mere decoration.
E.g., enclosed find a ca. 1530's Northern Italian war hammer and, showing the same originally turned/roped style but now merely appearing struck as an ornament, on a ca. 1540's South German Landsknecht saber, and finally, and very much like your hammer in discussion, a ca. 1600 Ambras sword (note the laterally roped decoration).
Best,
m