The latest market insight from London's Foxtons lettings agency has revealed that so far this year, the average number of buyer enquiries being made per month has increased by 41% across the London market, although in some areas this increase is as high as 153%.
Foxtons data looks at the average monthly number of buyer applicant enquiries made with the company so far this year and how this gauge of buyer market activity compares to the previous year.
The data shows that there has been a 41% increase in the number of buyer applicant enquiries made per month.
However, some areas of the capital have seen a far greater surge in returning buyer activity and nowhere more so than in Dulwich, where the average number of monthly enquiries is up 153% versus 2023.
Hampstead ranks second, with 104% more buyer enquiries per month versus last year, while Ilford has also seen an impressive increase at 101%.
Other areas to make the top 10 include Kingston (+93%), Stoke Newington (+89%), Ealing (+87%), London Bridge (+78%), St John’s Wood (+77%), Wapping (+73%) and Putney (+73%).
Foxtons chief executive Guy Gittins says: “It’s been an extremely positive start to the year for the London property market and we’ve already seen a notable increase in the number of buyers enquiring across all but a handful of areas.
“This is despite the fact that mortgage rates are yet to come down and such a show of intent so early in the year only bodes well for the coming months as we head into what is traditionally the busiest time of year for market activity.
“So if you are thinking of purchasing in 2024, now is the time to spring into action, as you’ll already be facing a higher degree of competition from other buyers and this competition is only going to intensify.”
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