Housing prices have risen by a fifth in five years

The company reported that the appetite of customers remained “inappropriately strong”, despite predictions that the market will start to cool down this year.

Gráinne Gilmore of Zoo said: “Demand is highest for single-family homes and more than twice as high as usual this time of year.

“However, demand is growing for almost all types of real estate, indicating that those considering relocating are in the best position to sell.”

Buyers are in a hurry to make a purchase, while they can still access historically cheap mortgage deals even before interest rates rise. The Bank of England raised the interest rate to 0.75 percent for the third time in a row earlier this month, and further increases are expected.

Despite growing customer demand, the supply of housing for sale in February was still 42 percent lower than the five-year average. Zoopla has announced that supply will increase in the coming months, but warned that this year will not change the extreme imbalance in demand.

Ms Gilmore added: “Increasing economic barriers, including rising living costs and rising mortgage interest rates, will start to slow real estate growth as we move through the second half of 2022.”