For example, from the “snapshot” of data we analysed, there was one marketing agency, which listed 35 new-build properties for sale during a 6-8 month period. However, on closer inspection of this data, there seems to be a pattern of listing, removing, and relisting properties.  The pattern occurs so frequently that it may have seemed as though there were 368 properties listed for sale instead of 35 during the same period. Instead of there being roughly £50 million in market value of apartments advertised, it may have appeared in some statistics as over £500 million in market value. This represents 10 times the actual market value of the apartments that were listed for sale. Data and summary are located here.

The “snapshot” of data also showed that another new-build home developer had recently listed 20 apartments for sale since February 2016, as shown here.The pattern of removing and relisting seemed to have occurred so frequently that the consumer might have thought there were 96 apartments with a market value of £100 million for sale in this short period. It may have therefore given the impression to consumers that apartments were literally flying off the shelves in this particular residential development as the listings appear to be removed a few days after being listed for sale. Since each property was relisted under a new listing, it would have been extremely difficult for a consumer to spot readily.

Just using the two brief examples taken from the two snapshots above, one might think that there was £600 million of housing stock moving in the market in this area when, in reality, the data suggests a market value closer to £70 million.

In one particular example, a £3.6 million property was re-listed 15 times over a period of 6 months. (See apartment 1.9.3/1.94 listed originally for £3,656,000 million - total amount of listings was 18 times overall however for this example we looked at just the 6 month period (Oct 2015 - March 2016) whereas it was repeated 15 times)

This may have led to the belief that there were 15 properties each with an asking price of £3.6 million – thereby potentially inflating the average asking price of the area and potentially giving a false impression of market activity in the area.  Housing indices, research publications, and marketing materials may have been prepared using this data. Most concerning of all is that potential buyers could have been inadvertently misled into thinking asking prices are rising in the area.

This pattern was not limited to just the Battersea Regeneration Area.  It was also spotted in the new development at 250 City Road in Islington.

In our snapshot, 16 apartments, marketed by a residential home builder, were listed for sale in this area over the course of a year.  These listings exhibited the pattern of listing, removing, and relisting.  In real terms, the total market value of the apartments amount to £22 million. However, due to the repetitive listing and relisting, the “perceived” total market value amounted to roughly £168 million.

We did attempt to contact Mount Anvil, Residential London, and Berkeley Homes with regard to the listings. In each case we were referred to the marketing personnel who, at the time, was unavailable for comment. We have left details and are awaiting their reply.