London estate agency Chestertons reports that there has been a significant increase in the number of homeowners offloading properties.

The latest monthly data released by the company reveals that it brought 90% more properties to the market in September than the corresponding month last year, and conducted 77% more valuations.

The company suggests that homeowners in the capital have become increasingly keen to sell their properties so that they take advantage of the recent boom in the market and the government’s stamp duty holiday.

Buyers have responded positively to these changes and Chestertons registered 9% more applicants, conducted 19% more viewings, received 20% more offers and finalised 22% more sales than the previous month.

Guy Gittins, managing director of 33-branch Chestertons, commented: “Property values are not increasing as much in London as they appear to be elsewhere in the UK because the surge in demand from buyers is currently being met by an increased number of new properties coming to the market. Provided they are priced correctly and not too ambitiously, properties are receiving lots of interest and we are agreeing a large number of sales.

“As this is the first strong sales market for a while, we have also seen a few landlords testing the waters and putting some of their portfolio up for sale, but most people selling now are also looking to buy something else.

“With coronavirus restrictions still in place and expected to tighten further, many people are facing working from home for the longer term and are desperate for a bit more space and keen to move as quickly as possible.”

Gittins added: “We are keeping a close eye on activity across the business and, judging by the volume of new enquiries still coming through to us and record levels of viewings being carried out, we are confident that the momentum in the market will continue at least until the end of the year.”