Recent figures show that the number of new enquiries from househunters increased for the fifth consecutive month in March, and at the fastest rate since September 2003.

According to the Royal Institution of Chartered Surveyors (RICS), bolstered demand led to a rise in the number of actual sales.

The RICS monthly data, derived from a regular of chartered surveyors in England and Wales, indicated that interest from new buyers was strongest in London, with 63% more surveyors recording a rise than a fall in new buyer inquiries, up from 46%in February.

Overall, 31% more surveyors reported a rise than a fall in new buyer inquiries, up from 21% in February.

However, the recovery in interest levels has not been matched by the number of properties coming onto the market for sale. That number continued to decline, dropping to the lowest level since September 2007.

Ian Perry, a spokesperson for the RICS, said: “Buyer interest is starting to gain momentum but will remain frustrated while mortgage finance is scarce. Accessibility for first-time buyers is likely to remain difficult.”

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