Selling times for residential property in the area also remain among some of the fastest in the country at 96 days in March, 40 days faster than the national average, according to the latest Move with Us Residential Market Review.

There was a huge surge in new listings for the Capital in January, as is seasonally expected. The number of new listings doubled in the first three months of the year from December’s figure.

Robin King, director at Move with Us, said: “An increased number of new listings, rising house prices and reduced selling times indicate a strong market. Timescales reduced in March which is an indication that the market quickly adjusted to cope with increased competition from new listings. This improvement will need to be confirmed in the next residential market review however London is generally seen to be a reliable and steadily improving market.”