London homes with a patio prove hot property,
The latest research from Benham and Reeves has found that London homes offering a patio have become highly sought after, with 41% of all patio-equipped properties currently listed already snapped up by eager homebuyers. However, potential buyers dreaming of a summer-ready outdoor space might face challenges, as only 8% of properties currently on the market in London offer this desirable feature.
The analysis, conducted by examining current live listings data from Zoopla, reveals the current level of buyer demand for patio-equipped homes across each London borough, alongside available stock levels.
Overall, 40.8% of homes featuring a patio and currently listed for sale have been marked as sold subject to contract, underlining the strong summer demand for properties providing usable outdoor space.
At a borough level, Waltham Forest emerges as the hottest location, with almost two-thirds (64.8%) of patio homes already secured by buyers. Bexley (58.5%), Sutton (56.9%), Redbridge (55.5%), and Havering (54.1%) also demonstrate robust demand, with over half of all patio-equipped properties already finding a buyer.
In terms of stock availability, Havering leads London, with 19.1% of for sale stock offering a patio, followed closely by Bromley (18.5%) and Hillingdon (15.8%). Bexley (13.1%) and Harrow (13.9%) also provide relatively high proportions of homes with patios.
Conversely, buyers searching in the City of London face the toughest challenge, with patio-equipped homes making up just 1.4% of available properties. Tower Hamlets (1.6%) and Newham (2.8%) also rank among boroughs offering the lowest availability of patio-equipped housing.
Marc von Grundherr, Director of Benham and Reeves, commented:
“Outdoor space continues to be a prized asset among London homebuyers and renters alike, especially during the warmer months and since the Covid pandemic.
Our analysis highlights how homes with patios are being snapped up at pace, meaning those looking to sell a property complete with a patio should have no problem securing a buyer.
Of course, with availability varying widely by borough, those hoping to secure a summer-ready home may need to broaden their search or be prepared to act decisively when suitable properties become available.”
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