'Spring bounce' fails to materialise in London housing market

Property sale and rental signs on a street in west London. Photo: Toby Melville, Reuters.

The traditional spring boost for the housing market has failed to materialise in London this year, according to new data from property website Rightmove.co.uk.

The number of new sellers is down 4% compared with this time last year - and new sellers have trimmed their asking prices by 0.5% in comparison with last month.

Rightmove director Miles Shipside said:

"From the perspective of both the weather and property price rises, spring appears to have been put on hold in the capital....though with a track record of heady rises over the last 12 months it is perhaps not surprising that London is pausing for breath.

"Property prices in the capital are exploring the upper waters, and often prices will calm for a while before breaking through to a different level. There is a limit to what many buyers can afford, and the traditional spring momentum has failed to carry it through the current barrier for the time being."

The company says that asking prices may bounce back next month, as the weather improves and sellers come to the market following the Easter break.

LONDON'S BEST PERFORMING BOROUGHS

CAMDEN: average asking price April 2013: £981,879 - up 4.5% on March 2013.

BRENT: average asking price April 2013: £692,067 - up 2.9% on March 2013.

BROMLEY: average asking price April 2013: £355,560 - up 2.4% on March 2013.

SUTTON: average asking price April 2013: £351,447 - up 2.4% on March 2013.

WESTMINSTER: average asking price April 2013: £1,617,732 - up 2.4% on March 2013.

LONDON'S WORST PERFORMING BOROUGHS

HAMMERSMITH AND FULHAM: average asking price April 2013: £972,175 - down 3.4% on March 2013.

NEWHAM: average asking price April 2013: £244,297 - down 1.6% on March 2013.

WANDSWORTH: average asking price April 2013: £700,107 - down 1.4% on March 2013.

BARKING AND DAGENHAM: average asking price April 2013: £216,183 - down 1.3% on March 2013.

KINGSTON-UPON-THAMES: average asking price April 2013: £680,519 - down 1.3% on March 2013.

Asking prices in the capital have dipped by 0.5% over the last month. Credit: REUTERS/Luke MacGregor

FULL LIST OF LONDON BOROUGHS - STARTING WITH THE MOST EXPENSIVE

KENSINGTON AND CHELSEA: £2,357,306 (av price April 2013) £2,316,256 (av price March 2013) 1.8% (Monthly change) £2,097,797 (av price April 2012) 12.4% (annual change)

WESTMINSTER: £1,617,732 (av price April 2013) £1,580,380 (av price March 2013) 2.4% (Monthly change) £1,465,323 (av price April 2012) 10.4% (annual change)

CAMDEN: £981,879 (av price April 2013) £939,491 (av price March 2013) 4.5% (Monthly change) £911,586 (av price April 2012) 7.7% (annual change)

HAMMERSMITH AND FULHAM £972,175 (av price April 2013) £1,006,016 (av price March 2013) -3.4% (Monthly change) £906,543 (av price April 2012) 7.2% (annual change)

WANDSWORTH: £700,107 (av price April 2013) £710,078 (av price March 2013) -1.4% (Monthly change) £692,396 (av price April 2012) 1.1% (annual change)

ISLINGTON: £694,333 (av price April 2013) £681,596 (av price March 2013) 1.9% (Monthly change) £666,360 (av price April 2012) 4.2% (annual change)

RICHMOND-UPON-THAMES: £693,255 (av price April 2013) £690,306 (av price March 2013) 0.4% (Monthly change) £701,601 (av price April 2012) -1.2% (annual change)

BRENT: £692,067 (av price April 2013) £672,808 (av price March 2013) 2.9% (Monthly change) £672,259 (av price April 2012) 2.9% (annual change)

KINGSTON-UPON-THAMES: £680,519 (av price April 2013) £689,145 (av price March 2013) -1.3% (Monthly change) £702,283 (av price April 2012) -3.1% (annual change)

BARNET: £594,222 (av price April 2013) £597,110 (av price March 2013) -0.5% (Monthly change) £557,329 (av price April 2012) 6.6% (annual change)

HACKNEY: £590,551 (av price April 2013) £587,961 (av price March 2013) 0.4% (Monthly change) £536,533 (av price April 2012) 10.1% (annual change)

HARINGEY: £588,564 (av price April 2013) £585,364 (av price March 2013) 0.5% (Monthly change) £538,723 (av price April 2012) 9.3% (annual change)

HOUNSLOW: £514,418 (av price April 2013) £520,234 (av price March 2013) -1.1% (Monthly change) £526,072 (av price April 2012) -2.2% (annual change)

LAMBETH: £501,300 (av price April 2013) £502,200 (av price March 2013) -0.2% (Monthly change) £488,856 (av price April 2012) 2.5% (annual change)

MERTON: £480,980 (av price April 2013) £480,563 (av price March 2013) 0.1% (Monthly change) £457,676 (av price April 2012) 5.1% (annual change)

EALING: £478,566 (av price April 2013) £472,155 (av price March 2013) 1.4% (Monthly change) £451,751 (av price April 2012) 5.9% (annual change)

SOUTHWARK: £468,425 (av price April 2013) £465,000 (av price March 2013) 0.7% (Monthly change) £436,727 (av price April 2012) 7.3% (annual change)

TOWER HAMLETS: £426,865 (av price April 2013) £420,486 (av price March 2013) 1.5% (Monthly change) £437,219 (av price April 2012) -2.4% (annual change)

LEWISHAM: £375,352 (av price April 2013) £375,418 (av price March 2013) 0.0% (Monthly change) £364,693 (av price April 2012) 2.9% (annual change)

HILLINGDON: £365,227 (av price April 2013) £367,404 (av price March 2013) -0.6% (Monthly change) £357,020 (av price April 2012) 2.3% (annual change)

BROMLEY: £355,560 (av price April 2013) £347,194 (av price March 2013) 2.4% (Monthly change) £361,885 (av price April 2012) -1.7% (annual change)

SUTTON: £351,447 (av price April 2013) £343,313 (av price March 2013) 2.4% (Monthly change) £349,098 (av price April 2012) 0.7% (annual change)

HARROW: £350,722 (av price April 2013) £351,306 (av price March 2013) -0.2% (Monthly change) £344,809 (av price April 2012) 1.7% (annual change)

ENFIELD: £348,671 (av price April 2013) £342,727 (av price March 2013) 1.7% (Monthly change) £335,331 (av price April 2012) 4.0% (annual change)

WALTHAM FOREST: £310,949 (av price April 2013) £306,505 (av price March 2013) 1.5% (Monthly change) £303,300 (av price April 2012) 2.5% (annual change)

GREENWICH: £309,921 (av price April 2013) £308,702 (av price March 2013) 0.4% (Monthly change) £282,536 (av price April 2012) 9.7% (annual change)

REDBRIDGE: £302,303 (av price April 2013) £303,461 (av price March 2013) -0.4% (Monthly change) £295,027 (av price April 2012) 2.5% (annual change)

CROYDON: £294,646 (av price April 2013) £293,904 (av price March 2013) 0.3% (Monthly change) £285,742 (av price April 2012) 3.1% (annual change)

HAVERING: £262,184 (av price April 2013) £263,596 (av price March 2013) -0.5% (Monthly change) £264,696 (av price April 2012) -0.9% (annual change)

NEWHAM: £244,297 (av price April 2013) £248,251 (av price March 2013) -1.6% (Monthly change) £244,793 (av price April 2012) -0.2% (annual change)

BEXLEY: £225,019 (av price April 2013) £224,194 (av price March 2013) 0.4% (Monthly change) £225,293 (av price April 2012) -0.1% (annual change)

BARKING AND DAGENHAM: £216,183 (av price April 2013) £218,960 (av price March 2013) -1.3% (Monthly change) £228,932 (av price April 2012) -5.6% (annual change)

(City of London excluded due to small number of residential properties.)

Click here for the full data.