The price of property coming to market rose 0.2% in September, according to Rightmove, to £319,996.

That’s 5% higher than the same time last year.

Northern regions saw the strongest price jumps, said the property portal, with Yorkshire & the Humber, East Midlands, West Midlands, North East, North West and Scotland all reaching new record highs for asking prices.

Fall in sales

However sales agreed are down, dropping 5% compared to the same period in 2019.

Regional variations on transaction numbers are wide, due to housing markets reopening at different times following lockdown.

Sales in the East of England are up 4%, for example, while in Scotland, where the housing market reopened later, they are down 21% compared to the same period in 2019.

But there are a lot of pending sales going through the system, explained Tim Bannister, Rightmove’s director of property data: “We’re hearing of challenges at all steps of the buying and selling process, including lenders having to deal with a higher number of mortgage applications and solicitors over their capacity, he said. “And we estimate there are nearly 40% more sales currently going through than at this time last year.

“The temporary stamp duty holiday means that there’s more urgency than usual for the congestion to be cleared by the end of March, making it vital for buyers and sellers to work closely with their estate agent and to make sure that they’re moving fast when the ball is in their court to complete a document or answer questions.

“We’d advise that buyers and sellers factor in at least an extra month to account for the current delays in the process, if possible, as time is already running short for sales that are agreed now to be completed by Christmas.”

Managing director of StripeHomes, James Forrester, added: “The Northern property powerhouse continues to drive the market forward where buoyant price growth is concerned.

“This is primarily due to the broader benefit of the current stamp duty holiday in these more affordable pockets of the market, whereby the vast majority are of buyers are purchasing below the £500,000 threshold and paying no tax as a result.

“Because of this saving, they’re prepared to offer that little bit more to secure their chosen property, and this is helping to boost prices across these regions.”