According to research by Hometrack, the number of buyers registering with estate agents rose by two per cent in the last month, while the number of homes coming onto the market fell by 1.6 per cent.
And the increased demand has put sellers in pole position, with sealed bids and gazumping becoming more common, particularly in areas like London and the South East, where prices and demand are highest.
The research revealed that the number of prospective buyers in London rose by more than six per cent month-on-month, with houses taking just over four weeks to sell on average. Properties in the capital now typically sell for 97.2 per cent of their asking price, and in the South East, sellers are achieving 95.9 per cent.
Richard Donnell, director of research at Hometrack, told the Daily Mail that a 'chronic lack of supply' was driving house price growth.
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