These are London’s most imbalanced housing markets
The latest research from Benham and Reeves reveals the least balanced housing markets in London where for-sale stock most heavily outweighs rental stock, thus putting renters in a difficult position when trying to find a home in the capital.
Benham and Reeves has analysed current residential property listings in London* to discover which boroughs offer the best and worst balance between rental and for-sale homes.
Across the capital, there are an estimated total of 109,060 homes on the for-sale and rental markets. Of these, rental properties account for 35,324, equivalent to 32.4%, demonstrating just how dominant the for-sale market is across the city, and highlighting how difficult the current market is for renters.
In some boroughs, renters are facing an even greater imbalance.
Nowhere is the rental market more profoundly overshadowed by the for-sale market than in Bromley in London’s South East. Here, there are an estimated total of 2,997 listings across the rental and for-sale sectors, of which 2,541 are for-sale. This means for-sale properties account for 84.8% of the borough’s current market, leaving just 15.2% for rentals.
Renters in nearby Bexley are facing a similarly difficult situation with rentals accounting for just 17.3% of all listings. Rental properties also account for less than 20% of the market in Havering (18%) and Sutton (18.8%).
Meanwhile, great imbalance also exists in Enfield (23.2%), Croydon (24%), Greenwich (24.5%), and Lewisham (25%), demonstrating just how much of South East London is dominated by for-sale properties as opposed to rental options.
However, it’s a different story in London’s prime markets, which appear to offer far greater balance for buyers and renters.
The most balanced market is found in Kensington & Chelsea. There are currently 6,572 listings in this sought-after borough, of which 50.9% are for sale, and 49.1% are for rent.
In Westminster, rentals account for 47.4% of the market, followed by Camden (44.1%), Islington (40.2%), and Tower hamlets (38.3%).
Director of Benham and Reeves, Marc von Grundherr, commented:
“The London market is rarely uniform and these figures highlight just how localised the balance between sales and lettings has become.
In many of the capital’s more leafy and less densely populated southern boroughs, such as Bromley and Bexley, we’re seeing strong buyer demand, particularly from young families looking for more space, good schools and access to green areas. These markets naturally lean more heavily towards homes for sale, as they attract longer term owner occupiers who are putting down roots rather than short-term renters. At the same time, the lower rental stock levels mean that those properties that are available command strong rental values and yields for buy-to-let investors.
By contrast, the more compact, higher value central and northern boroughs serve a different audience. Areas such as Kensington and Chelsea, Westminster, Camden and Islington remain magnets for young professional renters who want to be close to employment hubs and lifestyle amenities, as well as for affluent domestic and international buyers. As a result, these prime markets tend to display a far more even split between rental and for sale stock.
What this really underlines is the diversity of London’s housing landscape. Demand profiles shift significantly from one borough to the next, shaped by affordability, property type, transport links and local amenities. For renters in some outer boroughs, the current imbalance does make the search more challenging, while in prime central locations the depth of rental stock reflects the needs of a more transient and globally mobile population.”
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