Sales at Foxtons were up 28.5% in the first quarter of this year compared with the first three months of 2015.

The rise in sales pushed revenue up 16.2% in the quarter, as purchasers of second homes and buy-to-let properties rushed to beat the 3% Stamp Duty surcharge.

Because a “large number” of completions were brought forward, Foxtons has said that the sales pipeline for the second quarter is down on this time last year.

In a trading update, Foxtons also reports flat lettings revenue, with tenants continuing to renew existing tenancies rather than move.

Alexander Hall, Foxtons’ mortgage broker, did particularly well out of the Stamp Duty stampede, bringing in revenue up 57.6% compared with the first quarter of last year.

During the first three months, Foxtons has opened four new branches, including three with outer London postcodes – one in Essex and two in Surrey.

The network is now 62-strong, with three more offices scheduled to open this year, all outside central London.

Nic Budden, Foxtons’ CEO, said there had been a strong start to the year, but expects the current quarter to be “challenging”, citing the reduced sales pipeline and the uncertainty around the European referendum.

Nevertheless, he said Foxtons’ expansion strategy remains in place “as we continue to increase our market share in outer London”.

Separately, today LSL said that the acceleration of market activity in the first quarter of this year ‘will soften’ in the current quarter.

The company, parent of Your Move, Reeds Rains and Marsh & Parsons, said it has already seen this.

It reported that overall revenues for the three months to the end of March were up 16.9% year on year, with estate agency revenue up almost 20% on a year ago, with lettings income growth of 13%. Revenue at Marsh & Parsons was up 36.3%.

The firm said that its continuing estate agency strategy is to increase operating profit per branch; expand the number of Marsh & Parsons branches; and look for more acquisitions.

• Nationwide this morning reported average house prices standing at an average of £202,436 this month, up 0.2% on March and up 4.9% on an annual basis.