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Estate agency numbers drop in four out of ten London boroughs

fIXFLO news story

The number of estate agents in four out of ten London boroughs has fallen this year, although the overall number in the capital is up very slightly.

The largest fall was in Barnet, where there were 125 agents at the start of the year and there are now 116 – a fall of 7.2%.

Other boroughs with falls include Bexley, Ealing, Greenwich, Hammersmith & Fulham, Haringey, Hounslow, Kensington & Chelsea, Richmond and Wandsworth.

But in some boroughs (Brent, Bromley and Newham) numbers have remained unchanged, with others seeing rises in estate agency numbers.

Most notable is Westminster, which started 2016 with 228 and ends the year with 241 – an astonishing rise from two years ago when there were 179.

Across all boroughs, the number of high street estate agents has increased this year by just 0.5% to a total close to 2,900. Westminster alone has 8.3% of all agent offices in London, and more than a third of boroughs now have more than 100 high street agents each.

HouseSimple figures reveal that Barking & Dagenham and Southwark have both seen the number of high street agents rise by 10.7% this year.

Meanwhile Barnet has seen estate agency numbers fall by 7.2% and Richmond has seen the number of offices fall by 5.9%.

The table looks at the number of estate agents in each London borough today, compared to the starts of 2016 and 2015. All the figures relate to sales agents only and were taken from Rightmove, with analysis by online agent HouseSimple.

Alex Gosling of HouseSimple said: “After a strong start to 2016, the market has cooled.

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

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 this 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

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Source:: Estate agency numbers drop in four out of ten London boroughs