The property sales market may have started its seasonal slowdown last month, but enquiry levels remain at an historic high, according to Chestertons.

The London-based agency reports that enquiry levels in the capital in October were 40% up on the same period last year.

Statistics from the agent shows that in October, new enquiries and new buyer registrations were down 16% and 17% respectively and the number of offers being made on properties was down by 9% compared to September.

However, new enquiries still hit a five-year high, demonstrating that confidence in the market was still strong despite the prospect of a second lockdown.

Chestertons’ figures also show that buyers remained motivated to find and secure a property, with 23% more sales agreed and 1% more property viewings carried out in October compared to September, which is traditionally one of the busiest months for sales in London.

Guy Gittins, Chestertons MD, said: “The sales market will always slow as we approach the winter months and so the lower number of enquiries and registrations compared to September was to be expected. However, we are pleased to see that activity levels are still tracking well above last year’s figures and are at the highest levels for five years. The emergence of the second wave of Covid cases didn’t have any significant impact on demand.”

He continued: “There was understandably a bit of concern amongst buyers and sellers at the end of October as a second nationwide lockdown became something of an inevitability. Interestingly though, people’s main concern was about having their move date delayed and potentially missing the stamp duty holiday deadline, rather than fear about prices dropping substantially, as was the case in the first lockdown in March. Now the race is on to complete the sales of those properties currently under offer, before the end of the year or at least ahead of the stamp duty holiday deadline.”