25 Feb

London 'sees annual increase in property supply '

London 'sees annual increase in property supply '

Estate agents operating in London had more properties on their books in 2008-09 than they did during the previous 12-month period.

This is according to Communities and Local Government, which revealed that the region experienced an annual increase in the supply of houses of three per cent.

The capital was at odds in this respect with the country as a whole, which saw a drop in property supply last year.

Figures released by the department - which sets policy on local government, housing, urban regeneration, planning and fire and rescue - showed that the net supply of homes in England was 20 per cent down in 2008-09 compared with the year before.

Over the 12 months, total housing supply was recorded at 166,570 net additional dwellings.

The largest annual decrease occurred in the north-east, where a fall of 43 per cent was recorded. This was followed by the north-west at 37 per cent.
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