There are almost eight buyers for every home on sale across the UK according to Sequence, which has also revealed an unexpected drop in average prices.
The group, which has 300 branches under a range of brands including Barnard Marcus, William H Brown and Fox & Sons, says there are 7.7 would-be purchasers for every one instruction, about a third more than the number a year ago.
But prices, measured at the point of exchange, are down. In the UK as a whole the drop is one per cent in the past month, meaning a typical home at exchange costs £207,412.
London prices are down by a surprising four per cent, taking the average to £441,256.
Sequence chief executive David Plumtree says activity in the market is much greater than in the recent past fuelled by attractive mortgage products which has led to a 26 per cent rise in new buyers over just three months.
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