London’s housing market heats up with 25,000 new properties for sale in September
London's housing market is hotting up again after a quiet summer, with 25,000 new properties listed for sale in September.
The housing market traditionally picks up in the autumn, and there was 27.1 per cent increase in properties for sale in London between August and September this year, despite the housing shortage.
Only two of 32 boroughs, Croydon and Lambeth, saw a fall in supply and some of the most affluent boroughs reported substantial increases.
In Kensington and Chelsea, there was a 122.2 per cent rise in new listings, and a 95.7 per cent increase in Camden. Islington, Hammersmith & Fulham and Westminster also boomed, with their markets expanding around 50 per cent.
Alex Gosling, chief executive of online estate agents HouseSimple.com, which compiles the data, said: “We are in the grip of a severe property shortage and if September hadn’t seen a spike in new property listings we really could have been looking at a full-blown supply crisis. Fortunately, it seems sellers have woken from their summer slumber.”
The number of new properties listed in the UK as a whole was up 9.1 per cent.