Demand from house hunters has continued to surge despite constrained supply according to NAEA Propertymark’s latest figures.

The professional body for estate agency personnel has issued its November Housing Report that surveys the market.

It finds the number of buyers registered per branch has increased by 12% from October to November.

Supply of properties continues to fall to just 20 homes per branch – the lowest ever recorded and 50% less than November 2020.

Also, fierce competition has resulted in 38% of properties agreeing sales for more than the original asking price.

This is an increase from October when 21% of properties sold for more than the original asking price, and continues the trend of a strong sellers’ market

This is also almost four times higher than last year’s figure when just 10% of properties sold for over the asking price.

Commenting on the results Propertymark chief executive Nathan Emerson said: “The pressure on the housing market and consequently house prices, is continuing at an unrelenting rate.

“However, heading into December, the market should start to slow. Those with a property to sell would be wise to act sooner rather than later as the level of demand is expected to continue into the first quarter of next year but cannot last forever.”