First-time buyer registrations were up 82.9% in London compared to October 2012, while the rest of the UK experienced a 74.3% rise. The average age of a first-time buyer also dropped below 32 for the first time since April 2012.

Haart chief executive Paul Smith urged potential sellers to make their move before the New Year: “Second-steppers, who provide the majority of homes for first-time buyers, are finding that their properties are snapped up quickly and at a very good price.”

He said the first-time buyer comeback shows no sign of abating: “This is the message sellers need to hear, to oil the market sooner rather than later and to keep a lid on rising prices.”

The average first-time buyer house price in October 2013 was £152,593 – an increase of 3.2% on the previous month and 6.1% higher than the same time last year. The average size of mortgage acquired by first-time buyers also rose 5.5%. First-time buyers accounted for 43% of all mortgages written.

Signs of a buoyant property market in October have previously been identified by the Rightmove house price index, which suggested London asking prices leapt 10.2% in a month. Rightmove director Miles Shipside said there was a “buying frenzy” in some parts of the capital.

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