‘Golden postcode’ Notting Hill in Kensington & Chelsea are seeing supply shortages, while Wandsworth which contains areas such as Putney, Battersea and Tooting has the highest number of homes for sale
(Picture: AFP via Getty Images)As London‘s housing market struggles with the ongoing supply crisis, exclusive data reveals Wandsworth has the most homes for sale with 5,178 on the market now.
The area with the second most available properties is Barnet with 4,799, followed by Croydon (4,774) and Westminster (4,439), according to figures compiled for Homes & Property by TwentyCi.
At the other end of the scale, Barking and Dagenham has just 1,491 properties for sale while Islington has 2,147.
The UK is battling a severe supply crunch with the number of properties on agents’ books down by a third compared to pre-pandemic levels.
A recent survey by Savills found that nine in 10 aspiring home buyers say that the continued shortage of stock available to buy is stopping them from moving. According to the agent, 431,000 homes were available to buy at some point last month, 218,000 below the level in the same month three years ago.
In London, stock supply levels are better than other areas, but are still five per cent below where they were in 2019. Savills said this in part reflects the high number of flats for sale in the capital, which during the pandemic were far more difficult to sell.
Giles Barrett, head of sales at Domus Nova, an agent covering Kensington and Chelsea, said: “What we are seeing is a particularly high demand, and therefore shortage, in more spacious, family houses with communal gardens, particularly in popular residential areas with ‘golden postcodes’ such as Notting Hill.”
Barrett added there was also a very active ‘off-market’ scene where special properties aren’t advertised on the mainstream market.
Dale Woods, Senior Area Director at Barnard Marcus in Sutton and Richmond, said the agency was seeing a “significant lack of supply” in both boroughs, more properties were coming to the market compared with the latter end of 2021.
“At the moment, there is a cycle of buyers wanting to sell and move to other parts of London. However, as they cannot see many other properties for sale, they are reluctant to put their homes on the market causing a shortage,” he added.
Table: London boroughs ranked by number of properties for sale
London borough |
Number of available homes |
Wandsworth |
5178 |
Barnet |
4799 |
Croydon |
4744 |
Westminster |
4439 |
Bromley |
4039 |
Lambeth |
3989 |
Ealing |
3819 |
Merton |
3714 |
Tower Hamlets |
3686 |
Southwark |
3612 |
Hillingdon |
3526 |
Lewisham |
3466 |
Enfield |
3178 |
Kensington and Chelsea |
3094 |
Hounslow |
3037 |
Greenwich |
3003 |
Richmond |
2968 |
Havering |
2902 |
Brent |
2897 |
Redbridge |
2667 |
Waltham Forest |
2646 |
Bexley |
2624 |
Newham |
2615 |
Hammersmith and Fulham |
2536 |
Camden |
2506 |
Harrow |
2475 |
Sutton |
2463 |
Hackney |
2301 |
Haringey |
2249 |
Kingston |
2218 |
Islington |
2147 |
Barking and Dagenham |
1419 |
City of London |
209 |
