There were significant increases in the number of homes coming onto the UK property market during August 2013 as a result of rising property prices and increased buyer demand according to RICS Residential Market Survey.

The low number of new properties coming up for sale had been holding the market back in recent months, however during August 26% more chartered surveyors reported increases not decreases in new instructions, up from 16% the previous month.

Peter Bolton King, RICS Global Residential Director, said: “It’s not surprising that more and more people are looking to sell their homes. The buyers are out there and prices are on the up, so if you’re looking to move it’s a good time to do so. What we don’t wish to see, however, is prices rise to such an extent that they become unaffordable. For the market to work properly, it’s vital that property is both accessible and affordable, and we’ll be monitoring the situation very carefully as the housing sector continues to recover.”

Although supply did rise considerably in August, it was unable to keep pace with the sheer weight of demand as the number of would-be buyers increased yet again due to increasingly accessible finance allowing more people to enter the market with 66% more respondents reporting rising numbers of enquiries from potential buyers.

Across the UK 40% more surveyors reported rises in property prices, the highest reading since November 2006, with supply increase in each region with the South West and the North East seeing the number of new homes coming onto the market rise significantly.