London housing market put into reverse gear by surge in supply | Mt Kisco Real Estate

The number of new houses being put up for sale in London is increasing at a rate more than three times the national average as homeowners look to cash in on the surge in property values in the capital.

Meanwhile, demand for housing is rising much faster outside of London than in the capital, where the market has cooled significantly, according to new research.

The figures, published by the estate agents network Sequence, suggests that London has shifted from a seller’s market to one that is increasingly favouring buyers in recent months, while the opposite is true in the regions.

In the UK overall, buyer registrations rose 21pc in the year to July, three times faster than the 7pc increase in properties put on the market. In comparison, there was a 7pc increase in potential buyers and 25pc more houses put up for sale in London.


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