The average number of new homebuyers registered at estate agent branches jumped 34% to 94 in February compared to a month ago, data from Propertymark shows, painting “a robust picture” of the market.  

This number is also a 141% lift from the seasonal quiet December, which “suggests that buyers have not been put off looking for a new home by rising interest rates”, says the estate agent’s latest Housing Insight Report.  

The supply of new homes up for sale per member branch held steady at 10 per member branch last month.  

The average number of sales agreed per branch rose to eight in February, the same level as a year ago.   

It says the total stock of properties available per member branch continued “to inch up” to now stand at 32 on average per branch last month.  

Three-quarters of agents reported that most sales were agreed below the asking price, a 55% jump on a year ago.  

However, in the lettings market, the survey points out that an average of 10 prospective tenants are registering for each available rental property.  

It says the number of new tenants registering per branch held at 91 in February, close to last spring’s average of 94.  

But the number of rental properties per branch remained steady at 9 last month.  

Half of agents reported average rents rising month-on-month.  

Propertymark chief executive Nathan Emerson says: “There has been a lot of doomy whispers about the housing market since last autumn, but the activity being seen by Propertymark agents paints a robust picture.  

“Transaction levels year on year have been stable and listings of new properties coming to the market have also been steady.  

“Any indicators of something negative on the horizon would see these figures dropping below previous years.   

Emerson adds: “Prices have been affected by rising interest rates, but sellers are still keen to keep moving, and whilst interest rates are expected to rise again, they are not expected to climb excessively higher before reaching a level footing.  

“The lettings market remains very much out of balance, however, with an average of ten registered applicants per property.   

“As demand continues to outweigh supply, pressure on rents has eased slightly since the peaks of last summer but it has by no means gone away.”