Hot postcodes in a cool London market

THESE IN-DEMAND AREAS ARE RISING ABOVE THE SALES SLOWDOWN

-  REPORTS ANNA WHITE

The London housing market is in a precarious position. With interest rates lower than this time last year, and the uncertainty of the 2024 general election behind us, you might expect a recovery in home sales. But new data reveals that, as winter turned to spring, the capital's housing market slowed instead.

Exclusive research shows that the number of postcodes deemed to be hot seller's markets has been falling month-on-month this year compared with last. Propcast analysis tracks the number of homes under offer as a proportion of the number for sale in every postcode. Above a market heat of 34 (where 34 out of every 100 homes for sale are under offer or completing) is classified as a seller's market, characterised by multiple bids on one property and speedy sales. This January, 85 out of 121 postcodes were hotter than in January 2024. In February this slid to 71 postcodes out of 121. This fell again to 65 in March and then 35 in April, against a backdrop of economic turbulence triggered by Donald Trump's tariffs and the continued housing unaffordability in London.

Affordable enclaves