There was a 20 per cent increase inproperties hitting the sales market during February, with Barking and Dagenham atthe head of the pack.
The increase followed a 40 per centinjection of new supply in January and provides an encouraging perspective onthe current state of the market.
Across London, February’s new listings increasedupon January by 14.9 per cent, with 27,573 properties going up for sale,compared to 24,004 the previous month.
Barking and Dagenham led the charge, with a32.5 per cent increase in new sales properties and was followed closely byLambeth on 29.8 per cent and the City of Westminster with a 24.2 per centincrease over January.
The news comes in the wake of last month’sdisclosure that house prices were on the rise in Barking and Dagenham. Theborough was outperforming the more expensive districts thanks to demand fromfirst-time buyers, priced out of the more costly, central regions.
The figures offer promising news for aproperty market that has been starved of new stock in recent years and Barkingand Dagenham’s good fortune is reflected right across the UK.
Dundee, Hereford, Edinburgh, Bath andRotherham all saw exceptional rises in new properties to market during Februaryand now the momentum has started, there is hope that it will not be grinding toa halt any time soon.
