It is much higher than the previous record of 19% in May 2014 and twice as many as in March this year, when 16% of properties sold for more than the original asking price.
With the increase in demand, the report showed the supply of properties reached the lowest number recorded since December 2002. The average number of house hunters registered per estate agent branch is 427, which is an increase from 409 in March and is the highest April figure since 2004 when there were 487 house hunters for each branch.
The number of properties available per NAEA Propertymark member branch fell from 31 in March to 27. This figure is the lowest recorded since December 2002, when 25 properties were available per branch, meaning there is an average of 16 buyers for every available property on the market.
Mark Hayward, Propertymark Chief Policy Advisor, said:
"It is phenomenal to see demand for housing breaking records, as house buyers continue to fuel the post-COVID-19 economy. However, the continued imbalance of supply and demand is a concern and has led to a strong sellers’ market with properties being snapped up quickly at high prices.
"We look forward to the much-needed rebalancing of the market, and we hope the Planning Bill outlined in the Queen’s speech encourages the development of more housing, particularly in more affordable areas, as most of the development taking place is in areas that are unaffordable to first-time and lower-income buyers, although the UK Governments First Homes initiative will be a much-needed boost."
