Estate agents note the return of the serious seller

According to the National Association of Estate Agents the average agent sold 8 properties per branch, up from 7 in July and compared to 7 from 12 months ago.

House-hunters also showed renewed interest as demand figures reached a four year high. The number of people registering to look for homes rose from 299 to 304 on average.

Other figures showed the level of unsold stock on agents' books dropping from 70 to 65. Data collated from the NAEA's 7,000 members showed that many sales arose from three to four bedroom properties.

Wendy Evans-Scott, president of the NAEA said: "This Summer has seen the return of what you might call the ‘serious seller' - those who price realistically because they have a strong imperative to sell.

"Although supply levels dropped slightly, the number of sales made held strong, suggesting that those sellers that have remained in the market are pricing their homes sensibly.

"The increase in the number of family homes sold demonstrates that it is those that have to move because they need more space that are in the market. Accordingly, there are fewer speculative sellers out there, who inflate prices and are not committed to a sale."

However the latest figures also highlighted the increasing pressure on first-time buyers entering the market. The percentage of sales to this group decreased from 21% to 20% between July and August.