More than 200 estate agents have opened in London in the past year, at a rate of one every 1.6 days, despite a crippling lack of supply and decline in transactions.
The City of Westminster has the greatest number, at 228, and has seen a 27.4pc increase in estate agents opening in the past 12 months.
Online estate agent HouseSimple.com carried out the research that found there are some 2,900 estate agents in the capital, outnumbering the total of independent butchers, greengrocers and fishmongers.
Other boroughs which have seen steep rises in the number of estate agents include Islington (26.1pc) and Hammersmith and Fulham (15.9pc).
The only borough where there was a decline in the number of agencies was Enfield, which has six fewer than the previous year.
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House prices in London grew 9.4pc during 2015, according to the Office for National Statistics, compared with the UK average of 6.7pc.
The number of estate agents within a quater of a mile of Tube stations:
- Walthamstow – 18
- Borough – 18
- Wimbledon – 17
- Ealing Broadway – 17
- Canary Wharf – 17
- Turnham Green – 17
- Balham – 15
- Notting Hill Gate – 14
- Camden Town – 12
- St John’s Wood – 11
Alex Gosling, chief executive of online estate agent HouseSimple.com, said: “Estate agents have been making hay while the sun shines, opening more than 200 new offices in just 12 months. It’s not surprising, when just one office can make hundreds of thousands of pounds in fees in a year. London high streets are paved with property gold.
“It’s impossible to walk down a local high street in London now without passing an estate agent’s window, but Londoners will still be surprised to know there are almost 3,000 estate agents in the capital.
“It’s a staggering number, particularly when you consider most people now start their property searches online, and may never actually venture into a high street agent’s office.”