The latest Prop Cast National Hotspot Index for the second quarter (April to June) 2022 reveals the top 10 sellers’ markets in the capital, a ranking that is heavily dominated by eastern neighbourhoods.
The easterly cluster of post-industrial towns on the south side of the Thames include Belvedere, Bexleyheath (82 per cent under offer), Sidcup (80 per cent), Erith (79 per cent), Welling (77 per cent) and Greenwich (75 per cent).
All these areas sit within, or on the periphery of, regeneration zones which are delivering new homes and amenities. They also boast lower house prices than other parts of London so are at the more affordable end of the spectrum. Combined, these factors tend to drive house price growth.
Their appeal has further been heightened by the long-awaited arrival of the Elizabeth line which has at last connected Paddington, the West End and the City (via Liverpool Street) to Woolwich and Abbey Wood, making these south-east London riverside towns better connected than ever before and slashing journey times to central London and Heathrow.
The research measures the proportion of homes on the market against the number of homes under offer.
Those areas where the number under offer dwarfs the number coming up for sale are considered a sellers’ markets.
The list of the top 10 sellers’ markets is completed by Orpington on the cusp of Kent; Romford on the Essex border; and leafy Carshalton near Croydon.
The only top-ranking area in west London was Chessington, which sits between Twickenham and the M25.