There were 12 buyers for every property on the market in April, haart’s National Housing Market Monitor has found.
Buyer registrations rose by 22.1% year-on-year, with available properties only rose by 6.5% over the same period.
Paul Smith, chief executive of haart, said: “Those considering putting their home up for sale should do so now before the gap between stock and demand begins to narrow.
“We are also continuing to experience a much more motivated and mobile cohort of first-time buyers, who are continuing to take advantage of the stamp duty exemption – keen to finally escape the rental trap, or to get out from under Mum and Dads roof.
“Four months down the line we are still experiencing a 17% increase in numbers entering the market on the month. All the more reason to get your starter home on the market.”
He added: “More promising still, we also saw a 22% increase of landlords registering to buy across England and Wales, and 18% in London.
“Despite a barrage of restrictions and additional costs as a result of government policy, many are recognising the value that can still be found in buy-to-let property, especially in comparison to the overvalued and faltering stock market.
“Although conditions are much tougher, demand from tenants is growing and if you are willing to look slightly further afield there are still yields of around 7% to be gained.”