One in five homes currently for sale in London have been added to the market within the last 30 days, as sellers respond to strong buyer demand, according to Benham and Reeves.

Their analysis of current residential property listings in London found that 26.8% of available properties have already been snapped up by buyers, with Bexley having the highest demand as 47.8% of homes listed have been sold, followed closely by Waltham Forest (46.7%), Havering (46.3%), Sutton (40.9%), and Bromley (40.3%). 

Marc von Grundherr, Director of Benham and Reeves, said: “London is often one of the slower markets to respond when conditions begin to improve, but we’re now seeing clear signs that momentum is building across the capital. 

“The combination of steady house prices, stronger wage growth, improved mortgage affordability and a more stable political backdrop following the Autumn Budget has helped restore confidence on both sides of the market. Buyers have remained active throughout, and sellers are now responding in greater numbers, encouraged by the fact that well-priced homes are continuing to secure interest at a healthy pace. 

“What’s particularly notable is that we’re seeing this renewed confidence spread across a broad range of boroughs, rather than being concentrated in just one or two pockets of the market. That suggests this isn’t simply a short-term flurry of activity, but the early signs of a wider return to form for London as we move through the year.”

Of the estimated 115,560 homes listed for-sale in London, 19% had been added to the market in the last 30 days - equivalent to 22,028 listings.

Sutton has seen the biggest influx, with new listings accounting for almost a quarter (23%) of the market. Meanwhile, in Waltham Forest, Bromley, Richmond-upon-Thames, Havering, Kingston-upon-Thames, Southwark, Barking and Dagenham, and Wandsworth, 21% of all properties have come to the market in the last 30 days.