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|
|Hammersmith & Fulham||82||95||90||-5.3|
|Kensington & Chelsea||127||137||135||-1.5|
|Kingston upon Thames||58||64||62||-3.1|
|Richmond upon Thames||91||101||95||-5.9|