The gap between demand and supply is widening, with October seeing an average of 24 buyers for every property.

A professional body that represents estate agents from more than 12,000 offices across the country has raised the alarm on the state of the British property market, calling it ‘unsustainable’.

The culprit, according to NAEA Propertymark, is a dramatic imbalance between supply, which is the lowest on record and a massive 46% lower than October 2020, and demand, which is continuing to rise and now stands 12% higher than in September this year.

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