London’s current home selling hotspots – Covid continues to cause central London exodus

The latest research by lettings and estate agent, Benham and Reeves, has revealed which London boroughs are currently ranking as the home selling hotspots of the capital, based on the number of homes listed for sale per square kilometre.

Gov data estimates there are 3,592,322 dwellings across London’s 1,595 km2, meaning there are 2,253 homes for every km2 in the capital. Currently, just 3.3% of this housing stock is listed for sale on the market via the major property selling portals.

Croydon is home to the highest number of dwellings of all London boroughs with an estimated 161,060 homes, while Bromley is London’s biggest borough covering 150km2.

However, when it comes to the most homes per km2, the most populated London borough from a property standpoint is Kensington and Chelsea. There are 87,726 estimated properties spread across the borough’s 12km2, resulting in as many as 7,081 homes for every km2.

Islington also ranks as one of the most property heavy London locations, with 6,981 homes per km2, as does Hackney (5,852 per km2), Westminster (5,688 per km2) and Tower Hamlets (5,636 per km2).

But which are seeing the most activity in current market conditions when it comes to properties hitting the market for sale?

Wandsworth is home to the most current properties for sale, with 6,448 properties currently for sale. Westminster again ranks high with 6,029 homes on the market along with Croydon (5,762), Lambeth (5,348) and Barnet (5,247).

However, when it comes to the most homes for sale in relation to the size of the market, the City of London is the capital’s current home selling hotspot.

There are currently only 379 homes listed for sale across Square Mile, by far the lowest level of all London boroughs. But with just 6,506 dwellings in the City of London, it means a notable 5.8% of all housing stock is currently on the market.

Westminster, Kensington and Chelsea, Wandsworth and Tower Hamlets are also home to a large proportion of sellers looking to exit, with more than 4% of total housing stock listed for sale.

Director of Benham and Reeves, Marc von Grundherr, commented:

“The London housing market differs so drastically from one borough to the next, that total housing stock and the number of homes for sale simply doesn’t demonstrate which areas are home to the most housing or currently seeing the most homes hitting the market.

There’s no doubt that Covid is continuing to hit London’s more central locations, with the City of London seeing nothing short of a homeowner exodus as we continue to be restricted to working from home unless necessary.

For savvy homebuyers, analysing for sale listings in relation to housing stock gives a far clearer picture of where they might be able to secure a bargain purchase. Reduce stock and high demand will always push up prices as buyers battle to outbid each other. However, in areas where there is a more abundant level of homes available, you’re less likely to pay over the odds to secure one.”

Table shows the total number of homes in each borough, the size, the number of homes per km2, the number of homes listed for sale and what they equate to as a percentage of housing stock in each borough.
Location Total dwellings stock Size of borough (km2) Total dwellings stock per km2 Average number of ‘For Sale’ listings Homes for sale as a % of dwelling stock
City of London 6,506 3 2064 379 5.80%
Westminster 125,312 22 5688 6,029 4.80%
Kensington and Chelsea 87,726 12 7081 3,839 4.40%
Wandsworth 148,075 35 4204 6,448 4.40%
Tower Hamlets 121,539 22 5636 5,203 4.30%
Kingston upon Thames 67,642 37 1816 2,733 4.00%
Lambeth 141,507 27 5192 5,348 3.80%
Richmond upon Thames 85,564 59 1456 3,169 3.70%
Croydon 161,060 87 1862 5,762 3.60%
Hillingdon 110,734 116 957 3,960 3.60%
Havering 102,459 114 895 3,635 3.50%
Hammersmith and Fulham 89,186 17 5197 3,095 3.50%
Islington 103,740 15 6981 3,578 3.40%
Merton 84,570 38 2249 2,908 3.40%
Barnet 152,946 87 1763 5,247 3.40%
Bromley 139,684 150 930 4,702 3.40%
Camden 105,598 22 4845 3,429 3.20%
Sutton 83,553 44 1905 2,690 3.20%
Ealing 135,305 56 2437 4,315 3.20%
Lewisham 128,115 35 3627 4,026 3.10%
Brent 120,448 43 2786 3,739 3.10%
Harrow 91,909 50 1821 2,841 3.10%
Waltham Forest 103,642 39 2670 3,075 3.00%
Southwark 136,178 30 4555 4,008 2.90%
Bexley 98,391 64 1531 2,855 2.90%
Greenwich 114,398 50 2271 3,293 2.90%
Hounslow 101,838 57 1799 2,847 2.80%
Hackney 111,559 19 5852 3,015 2.70%
Haringey 109,388 30 3697 2,918 2.70%
Enfield 126,255 82 1536 3,241 2.60%
Redbridge 104,688 56 1855 2,674 2.60%
Newham 116,979 39 3025 2,831 2.40%
Barking and Dagenham 75,829 38 2007 1,276 1.70%
London 3,592,322 1595 2253 119,097 3.3%
Sources Gov.uk: Live tables on dwellings London Datastore: Land use by London borough Rightmove and Zoopla (19/01/2021)
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About the Author

Established in 1958, Benham and Reeves is one of London’s oldest, independently owned property lettings and sales agents. With specialism in residential sales, corporate lettings and property management in prime areas of London, the company operates from eighteen prominently located branches and five international offices.

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