The number of houses for sale in England and Wales has more than doubled in a month, according to TEAM, the country’s largest network of independent estate agents. On average, properties are 9.4% more expensive than 12 months ago.

TEAM’s latest national survey shows that nationwide the average price of homes “under offer” was £176,334 in mid-February compared with a figure of £176,693 in January. There were rises above 2% in South Wales and Cornwall.

The survey is based on data supplied by 558 offices of TEAM members in 16 regions across England and Wales and reflects a daily average of 5,679 homes listed as under offer by agents in the four-week period to mid-February. With the exception of October 2003 when the total was 6,117, the figure of 5,679 is the highest since July 2002.

TEAM’s national chairman, Philip Muzzlewhite, commented: “Early trends confirm our view that this will be a “steady as you go year”, with areas outside the South East continuing to close the gap with the South East, while that area continues to mark time. A good time to sell and to buy.”

Jim Atkins, a past president of the National Association of Estate Agents and a TEAM member based in Dorset, said: “February has proved that the busy first few weeks of the year were not a flash in the pan. Throughout most regions good solid business is being done. Prices hold steady or nudge up a little. It looks to be an active market for the year ahead, with continuing strong demand from the public who want to buy and sell. The recent small increase in interest rates has not deterred buyers. New applicants are plentiful.”