Haart says the average UK house price growth is now 8.9 per cent with a typical home costing £206,578 - although London once again is streaking far ahead.
Within the capital homes are 23.6 per cent more expensive than a year ago having risen 2.4 per cent in the past month alone.
The number of transactions nationwide has risen by 8.9 per cent while in the capital the supply of properties on the market is shooting up - it's 26.6 per cent more over a year ago.
The market is recalibrating as our data shows, with an easing of demand as new buyer registrations across the UK decrease 5.5 per cent annually, in contrast to the uplift in homeowners looking to sell - up 4.1 per cent according to haart CEO Paul Smith.
Despite this influx of stock the market remains competitive with an average 9.5 buyers registering interest in every new home that comes to market, which is the driver behind property price growth. This gradual return to normality should now dispel fears about property bubbles which we have always dismissed as hype claims Smith.
The data for haart's figures come from management reports produced from about 100 of the firm's 200 branches. The firm is one of six brands in the Spicerhaart group.
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