The average number of properties listed per member agent branch has risen – from 19 in January to 23 in February, the highest it’s been for five months.

According to the latest data from Propertymark, the average number of properties listed per member agent branch increased by 21% month-on-month.

Sales agreed are up from seven per branch in January to eight in February — the highest since October 2021.

The figures also reveal that 39% of properties sold for over the original asking price in February, while the proportion of monthly sales to first-time buyers have reached their highest point since June 2000, accounting for 37% of overall sales last month. This is up on January’s figure of 29%.

Nathan Emerson, CEO, Propertymark, said: “It’s positive to see more properties entering the market. The number of new buyers wanting to register is easing, but agents’ books are still bursting with those who have missed out on previous properties.

“The amount of properties going for over the asking price is still a figure that’s over three times more than what we would see in a pre-pandemic market, but with the cost of living, energy and interest rates all looking to increase it’s possible we will start to see buyers being more cautious with their cash.”