Supply has dropped to a new post-crisis low, says website Home.
Doug Shephard, director at the site which takes its listings from virtually every other property website and portal in the UK, said: “Potential buyers, especially those in London and the south-east, are set for more frustration for the rest of 2013 and into 2014.
“Their choice of properties to consider is the lowest it has been since 2007 and there are no signs of possible improvement.
“The flip side for vendors is, of course, more positive. The low volumes of property that do make it to the market are in higher demand, and the typical time on market is four days shorter than this time last year.”
According to Home, the total number of properties for sale is down 55% compared to November 2007.
The supply of new property in London is down 30.5% compared with a year ago.
The site says the average asking price in England and Wales is now £247,137, up 5.7% on this time last year.