The latest, autumn 2020, London Residential Property Market Report by Chestertons has revealed that the number of new properties being advertised for sale by the chain of estate agents rose by 110% compared to the previous three months and was 72% up on the same period in 2019.

Supply and demand
The London property market gathered considerable momentum in the three months to September and the number of sales agreed by Chestertons during this period more than doubled compared to the previous three months and was 37% higher than in the corresponding period last year. This increase is even more impressive given that international buyers, who typically account for a significant proportion of buyers in central London, have been largely absent since April.

However, homeowners and landlords with vacant properties continued to put their properties onto the market in greater numbers and the number of new properties being advertised for sale by Chestertons rose by 110% compared to the previous three months and was 72% up on the same period in 2019.

At the end of September, the total number of properties available for sale (existing and new-build combined) was 21% higher than at the end of June and 30% higher than September 2019.

Between July and August, buyers became more active than they had been at any point since the first three months of 2016, with more making enquiries, undertaking viewings, making offers and agreeing purchases.