A recent analysis of the level of property stock listed for sale across England has shown that there is £117 billion worth of property currently up for sale.
GetAgent accumulated these findings by considering the level of property stock across British postcodes and the value of the properties were listed for.
Postcodes with the highest stock levels
The E17 postcode, which belongs to Waltham Forest, has a total of 1,704 homes listed for sale on the property market.
This puts Waltham forest in first place for the highest number of properties available for sale. With 1,682 homes listed Croydon is in second place, followed by Brighton and Hove (1,360).
The figures also highlight that five other London postcodes secured a spot in the top 10 locations with the highest number of properties available for sale.
In Chelmsford the CM1 postcode has 1,065 properties for sale, LU7 in Bedfordshire has 954 homes up for grabs, and GU22 in Woking has 944.
Postcodes with the highest market value of sold stock
Central London homes also rank highly when it comes to the highest market value of stock. The SW1 postcode has 475 homes listed for sale on a market worth £1.1 billion.
In second place is Wandsworth’s SW11 postcode. The total value of stock in this part of London is £1.058 billion.
Other high-performing locations that sit in the top 10 include Waltham Forest (£840m), Camden (£798.2m), Hammersmith and Fulham (788.1m), Croydon (£680m), Tower Hamlets (£599.9m) and Hackney (£933.9m).
The only location to make the list outside of London is the GU22 postcode in Woking. The town in northwest Surrey has properties for sale worth £575.1 million.
Co-founder and chief executive officer of GetAgent.co.uk, Colby Short, explains: “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.”