New properties ‘flooding the Newham housing market’

Newham was the only London borough where the number of properties on the market increased from June

Newham was the only London borough where the number of properties on the market increased from June to July. Picture: PA/Chris Radburn - Credit: PA Wire/Press Association Images

Newham is the only London borough where the supply of new properties coming onto the housing market is not drying up, research suggests.

Across the capital new listings of homes on the property market dropped by 12.7 per cent in July compared to June.

Meanwhile in Newham, the only borough where the supply of housing on the market rose in July, new property listings went up by 11.9pc compared to June, according to the research by estate agent HouseSimple.com.

Some boroughs such as Camden (-29.9pc), Kensington and Chelsea (-26.1pc) and Hackney (-24.1pc) experienced a significant drop off in the number of properties listed on the market.

The estate agent’s CEO, Sam Mitchell, blamed the slowing market on the weather, saying “it’s hardly surprising people headed to the beach rather than the estate agent”.


You may also want to watch:


He added: “There is no evidence that buyers and sellers are withdrawing, and even yesterday’s rate rise is unlikely to have a dramatic impact on the market.”

Most Read

Become a Supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Become a Supporter