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The serious seller has returned to the UK property market, it is claimed

According to the National Association of Estate Agents (NAEA), the average agent sold eight properties per branch, up from seven in July and compared to seven from 12 months ago.

House-hunters also showed renewed interest as demand figures reached a four year high. The number of people registering to look for homes rose from 299 to 304 on average.

Other figures showed the level of unsold stock on agents' books dropping from 70 to 65.  Data collated from the NAEA's 7,000 members showed that many sales arose from three to four bedroom properties.

‘This Summer has seen the return of what you might call the serious seller, those who price realistically because they have a strong imperative to sell,’ said Wendy Evans-Scott, president of the NAEA.

‘Although supply levels dropped slightly, the number of sales made held strong, suggesting that those sellers that have remained in the market are pricing their homes sensibly,’ she explained.

‘The increase in the number of family homes sold demonstrates that it is those that have to move because they need more space that are in the market. Accordingly, there are fewer speculative sellers out there, who inflate prices and are not committed to a sale,’ she added.

However the latest figures also highlighted the increasing pressure on first time buyers entering the market. The percentage of sales to this group decreased from 21% to 20% between July and August.