The data provider’s analysis shows that 18.4% of all properties listed for sale in June had also been listed for rent within the three years prior to the sale listing.

Representing 28,000 properties, the figure was 100.6% higher than June last year and 27.4% higher than May this year.

Elsewhere, the report shows the supply of ‘new instructions’ went up by 8.6% at around 477,000 for the quarter and ‘sales agreed’ having increased by 15.1% compared to Q2 2023.

TwentyEA says that both metrics have exceeded the levels seen before the Liz Truss/Kwasi Kwarteng tenure and those prior to mortgage affordability and availability challenges.

Exchanges also increased by 10.4% compared with Q2 2023, which TwentyEA says shows recovery from the stalling effect of the sales market in Q3 and Q4 of 2023 when significant interest rate changes took effect.

Properties priced between £200k to £350k have seen an increase of over 3.5% in exchanges, while those in the £350k to £1m range are up by 1.3%.

The report also looked at exchanges to understand the role of demographics, which found that exchanges increased by 12.8% among elderly households.

There was also a 12% increase in exchange among those aged 46-65.

For all age bands under 45, there has been a reduction in the volume of exchanges with -9.4% for 36-45-year-olds, -18.2% for 26-35-year-olds and -28.7% for 18-25-year-olds.

Meanwhile, the income brackets of those buying properties were also examined. TwentyEA found the volume of property exchanges declined across all household income brackets below £50,000 by up to 7.2%.

The bracket of £150K+ saw increases of 7.0% followed by £70,000 – £99,999 which went up by 6.4%.

TwentyEA executive director Katy Billany says: “There’s no doubt our data shows a significant uplift in the number of landlords selling up, either reducing their portfolio size or possibly exiting the sector completely.”

“There’s currently a lot of uncertainty in the buy-to-let market around what the change in government means for landlords but they have also been hit by steep interest rate rises and rising costs generally, so it’s likely there are several factors at play here.”