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High street estate agents continue London growth spurt

by: Heather Greig-Smith
  • 21/12/2016
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High street estate agents continue London growth spurt
The number of high street estate agents has risen in half of all the London boroughs this year.

According to online estate agent HouseSimple.com, 16 of the Capital’s 32 boroughs have more estate agents then they did at the start of the year.

Barking & Dagenham and Southwark have both seen a 10.7% rise in agent numbers and almost a third of boroughs have more than 100 high street estate agents each.

Across all boroughs, the number of high street estate agents has increased by 0.5%, at close to 2,900. Westminster alone has 8.3% of all agent offices in London, with 241.

However, it is a mixed picture, with 13 boroughs seeing a drop in the number of high street agents. Barnet has seen a 7.2% fall in 2016 and Richmond has seen the number of offices fall by 5.9%.

Alex Gosling, HouseSimple.com chief executive, said: “Last year saw an explosion of estate agent offices opening across London hoping to take advantage of a booming property market. But after a strong start to 2016, the market has cooled, with stamp duty changes hitting super prime sales and the EU Referendum and US Election result putting some doubt in buyers’ minds.”

He added: “Established high street agents might be able to absorb a slowdown in sales, but the opportunist agents who open to take advantage of a booming market quite often disappear from the high street as quickly as they arrive.”

Walthamstow has the highest concentration of estate agents within a quarter of a mile of a main tube station, with a total of 21. Canary Wharf has 19.

London Borough Number of agents in borough – start of 2015 Number of agents in borough – start of 2016 Number of agents in borough – end of 2016 % rise/(fall) in agents since start of the year
Barking & Dagenham 25 28 31 10.7
Barnet 122 125 116 -7.2
Bexley 52 55 52 -5.5
Brent 60 64 64 0.0
Bromley 110 116 116 0.0
Camden 109 120 127 5.8
Croydon 98 103 108 4.9
Ealing 87 91 88 -3.3
Enfield 92 86 88 2.3
Greenwich 64 70 67 -4.3
Hackney 65 74 75 1.4
Hammersmith & Fulham 82 95 90 -5.3
Haringey 58 61 60 -1.6
Harrow 67 67 68 1.5
Havering 53 56 57 1.8
Hillingdon 69 73 69 -5.5
Hounslow 59 65 62 -4.6
Islington 88 111 112 0.9
Kensington & Chelsea 127 137 135 -1.5
Kingston upon Thames 58 64 62 -3.1
Lambeth 79 85 91 7.1
Lewisham 71 79 82 3.8
Merton 62 64 65 1.6
Newham 74 76 76 0.0
Redbridge 77 77 80 3.9
Richmond upon Thames 91 101 95 -5.9
Southwark 92 103 114 10.7
Sutton 46 50 49 -2.0
Tower Hamlets 131 135 136 0.7
Waltham Forest 61 62 67 8.1
Wandsworth 153 160 151 -5.6
Westminster 179 228 241 5.7
TOTAL 2,661 2,881

 

2,894 0.5

 

London Tube stations Number of estate agents within a quarter of a mile of tube station
Walthamstow 21
Canary Wharf 19
Ealing Broadway 17
Borough 16
Wimbledon 16
Turnham Green 16
Balham 14
Notting Hill Gate 14
St John’s Wood 13
Camden Town 11

 

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