Haart branches have reported that exchanges came close to a two-year high last month.

Data from the agent’s network of 100 branches showed exchanges were up 10% on a monthly basis in August to 45,752, the highest level since November 2016 and up 13.6% annually.

The report from haart says average house prices in England and Wales were down 3.1% annually to £223,834, but up 0.7% in London to £548,308.

Its branch data shows registrations and listings were down 4.5% and 1.1% respectively between July and August.

However, haart agents claim new buyer registrations on a yearly basis are actually up 13%, with supply increasing by 9.8%.

Branches in London reported a 19% annual increase in buyer registrations, although exchanges in the capital are down 10.5% compared with last year, despite a 15% monthly increase.

Haart’s lettings activity was less positive.

The agent recorded a 3.5% monthly decline in rental supply across its branches, falling 0.1% annually.

The number of new landlords registering to buy was also down 2.9% on a monthly basis and 28.4% annually.

Paul Smith, chief executive of haart, said: “For over two years we have been listening to bold claims from commentators and public figures about the impact that Brexit will have on the housing market, but what we are seeing on the ground is proving them otherwise.

“The number of buyers entering the market is at the highest in two years.

“Even the formerly sluggish London market is starting to make a U-turn. House prices are down slightly on the month and are flat on the year, but transactions have jumped 15% on the month.

“We are continuing to see buy-to-let purchases fall on the year. The additional tax burdens which have been placed on the sector have certainly been a setback but their impact has utterly been overdone by industry commentators. Investors should recognise that buy-to-let is still a worthwhile investment.

“But the market is not without its flaws. The Government needs to redouble its efforts to increase housing stock, and there is growing clamour within the industry for further radical action following the success of last year’s Stamp Duty cut for first-time buyers.”