A staggering £117bn worth of property currently up for sale across the Britain’s property market, according to GetAgent.
GetAgent analysed the level of available property stock currently listed for sale across every British postcode, as well as the value these homes were listed for, to reveal the total value of bricks and mortar that is currently up for grabs for Britain’s homebuyers.
When it comes to property market supply, the E17 postcode of Waltham Forest ranks top with 1,704 currently listed on the market, with five other London postcodes also making the top 10.
Outside of London, Brighton’s BN3 postcode is home to the largest level of property market supply, with £1,360 homes listed.
The CM1 postcode in Chelmsford also places high with 1,065 properties for sale, along with LU7 in Bedfordshire (954), GU22 in Woking (944) and BN1 in Brighton (944).
However, it’s the SW1 postcode in central London that ranks top for total market value of current for sale stock, where the 475 homes listed for sale on the market total almost £1.1bn in value.
Wandsworth’s SW11 postcode sits second with current for sale stock totalling a market value of £1.058bn, while Waltham Forest (£840m), Camden (£798.2m), Hammersmith and Fulham (788.1m), Croydon (£680m), Tower Hamlets (£599.9m) and Hackney (£933.9m) also sit in the top 10.
Across the rest of Britain’s, Brighton’s BN3 postcode again leads the way, where current for sale stock is worth £750.5m in the current market.
The GU22 postcode in Woking is the only other area to make the list outside of London, where homes currently for sale command a total value of £575.1m.
Colby Short, co-founder and CEO of GetAgent.co.uk, said: “The housing market is yet to show any signs of running low on steam and it seems as though every week there are reports of property values reaching new record highs.
“This house price performance is being driven by a sustained level of market activity from the nation’s homebuyers and this demand, coupled with a lack of stock, is the driving factor behind house price inflation.
“So when you consider that there are almost 380,000 homes currently listed for sale across Britain, worth a huge £117bn in the current market, and this still isn’t enough, it really does put our appetite for homeownership into perspective.”
