Property transactions show no winter lull

The research also found that average price of a house in the UK was up 9% annually in November reaching £209,923.

In London the average price was up 5% month-on-month and 15% annually to £425,486 as mortgage applications continued to rise.

David Plumtree, chief executive at Sequence, said: “The current property market appears to show no signs of slowing as we approach Christmas, with activity levels and house prices remaining buoyant.

“Looking at the annual rate of change it becomes clear that 2013 is a very different market to that of last year, with sales transactions levels across the UK up 32% and house prices up 9%.

“Yet again London is leading the way, with prices up 5% on month and 15% annually. These price rises are not deterring buyers, as sales transactions continue to rise at a fast pace, up 56% annually and 2% month-on-month.

“The primary reason for the heightened activity levels is an increasing demand for home ownership across the demographic spectrum.

“There has been a constant flow of new buyers for the last four months, increasing 1% in November and up 36% annually.

“This, combined with a slowdown in the supply of property coming onto the market, (-14% on month) has resulted in almost seven (6.9) buyers registering to buy every new instruction. In London this is even more acute, with 14 buyers chasing every new instruction.”