Newquay has been named the “hottest sellers’ market” by Rightmove as 82 per cent of the properties listed this year have already sold subject to contract.

The average asking price for properties in the Cornish town was £351,398, according to the website.

At the other end of the scale is Birmingham, where only 18 per cent of homes have sold and the average asking price was £218,072.

Close behind Newquay was Newton-Le-Willows in Merseyside where 81.8 per cent of homes listed this year have already sold subject to contract, and where the average asking price was £182,280.

Plymstock in Devon, Hailsham in East Sussex, Canvey Island in Essex, Atherton in Manchester and Quedgeley in Gloucestershire have all seen more than 80 per cent of properties sold subject to contract.

Willingdon in East Sussex, Whitchurch in Bristol and Melksham in Wiltshire were close behind where around 78 per cent of properties have sold.

Among the slower markets were Liverpool city centre where 22 per cent of properties listed so far this year have sold, Beaconsfield in Buckinghamshire where 29 per cent have sold, Manchester city centre, Sunbury-on-Thames in Surrey, Langley in Berkshire and Bushey in Hertfordshire where 31 per cent have sold.

In Norwich city centre, Witney in Oxfordshire and Southampton city centre, around 33 per cent of properties listed this year have sold.

Across Britain almost two out of every three properties on the market are sold subject to contract.

Available stock is down 26 per cent on this time last year, though this does compare to when the housing market was closed in April 2020.

While new properties for sale jumped by 51 per cent from February to March, demand is still outstripping supply in a number of areas.

So far this year Rightmove has recorded 20 of its busiest ever days for visits to the site, with 9.3 million visits last Wednesday.

Rightmove director of property data Tim Bannister says: “Areas around the North and South West are the stand-out seller’s markets right now, and places in Cornwall and Devon are continuing the trend of a desire to move to the seaside and countryside. 

“Suburbs are also faring well as some people move further out from the centre of cities. 

“Both sale and rental properties in city centres have been suffering over the past year as the usual appeal to live there has temporarily been taken away, leading to more stock than usual being available, but we may see these start to shift more quickly over the next few months as lockdown restrictions continue to be removed.”

Newquay estate agency Start & Co’s partner Bradley Start says: “The stock shortage is the worst I’ve seen in thirty years and there’s just seemingly endless demand. 

“We’re getting requests for viewings within minutes of a property going on Rightmove and many properties are going to best and final offers due to the competition, something that usually we would only see a few times a year. 

“It’s a mix of locals moving, people buying holiday homes and those relocating completely, which is leading to more out-of-town buyers than we would normally see. 

“Those who are choosing to relocate are, understandably, looking for a home right by the sea, which is pushing up demand even more for those homes with the all-coveted sea view. 

“The lack of stock I think is mostly down to the fact that sellers are unsure that they will be able to find a replacement property to buy, but if more sellers decided to come to market this would help across the whole chain.”