The average house price hit the market at £338,462, shows data for the month from Rightmove, which is a new record high.

This equates to an annual rise of 5.8% and a monthly change of 0.30%, the data shows.

However, Rightmove adds that with this record price £15 higher than July’s total, prices appear to be stabilising. It also says that there were 14% more new listings in the first two weeks of September than in the final two weeks of august.

“This… is only an early snapshot, but autumn is traditionally a busy period,” points out Rightmove director of property data Tim Bannister comments.

“The frenetic pace of this year’s market may also have put some potential movers off, but there are signs of a return of some normality,” he adds.

MT Finance director Tomer Aboody says: “Many buyers not wanting to be left behind are selling their homes and renting until they find something to buy, so they don’t miss out. Being a ‘ready and willing’ buyer, whether using cash or a mortgage, is an essential part of being ahead of the game.

“While interest rates remain at record lows, buyers are able to borrow more at an affordable level. Hopefully, increased stock will come to market in the coming months, helping stabilise price growth to an extent.

“A stamp duty adjustment is needed in order to release further properties onto the market; this would be most helpful for downsizers who currently have no incentive to sell due to having to pay high stamp duty on their ongoing purchase.”

And GetAgent.co.uk founder and chief executive Colby Short adds: “Unfortunately for the nation’s first-time buyers, those with an existing property to fund their onward purchase are in a far stronger position when it comes to placing an offer and this has pushed up the cost of buying quite considerably. As a result, those looking to buy their first home are now paying 12% more compared to just 12 months ago.

“However, the cost of borrowing remains very favourable and given current market delays, some sellers will place the stronger position of a FTB above that of a few thousand pounds extra.”