The average time taken from offer to exchange is now betyween 13 and 16 weeks, due to the transaction pressure the housing boom has put all parts of the industry under, according to Propertymark.

The estate agent’s body says “the huge demand the property market has seen conveyancers as well as mortgage brokers and moving companies all been overwhelmed, adding to the backlog”.

This period is around two weeks longer than normal, and sometimes much faster than that.

The number of housing transactions in July was 73,740, 4.2% higher than a year ago, according to HMRC data released this week, despite the tapering of stamp duty beginning at the end of June this year.

The housing market has seen rising volumes since chancellor Rishi Sunak introduced the stamp duty holiday last July.

The government boost came because the housing market had almost ground to a halt due to lockdown restrictions introduced last spring sparked by the pandemic.

UK house prices are also rising, albeit at a slower pace.

The average price of a home in July rose by 7.6% to £261,221 on an annual basis, says the latest index from Halifax.

This compares to annual growth of 8.8% in June and 9.6% in May, meaning that price growth has slowed down for the second month in a row.

Last month, 31% of houses sold for over the asking price, says Propertymark.

Propertymark chief executive Nathan Emerson says: “A lot of people who are new to the market may not realise how different things are right now.

“Historically we have all been very used to sales taking six to eight weeks to go through, sometimes maybe even four.

“The current market is a very different beast though and people really do need to be aware that they must plan ahead.”