Nearly £150billion-worth of home sales took place across the UK in the first 15 weeks of this year, according to a property website.
Zoopla says the £149bn sales total represents nearly double the value of homes sold subject to contract in the same period in 2020 and 2019.
The research also found that strong activity is eroding the supply of homes available.
It said the total number of homes on the market and not yet under offer was around 30% down in early April compared with average levels during more “normal” times between 2017 and 2019.
Three and four-bedroom houses have recorded a particularly sharp fall in supply, Zoopla added.
Listings of four-bedroom homes for sale are down year-on-year across the UK – by 58% in Scotland, and in England by 44% in the South West, 42% in the North West and 40% in the South East.
There is a risk the lack of family houses for sale will limit sales growth in the second half of 2021, the company said.
Glasgow, Bristol, Nottingham, Stoke and Middlesbrough are particularly busy sales markets generally, it added.
Meanwhile, Manchester, Liverpool, Leeds, Nottingham and Leicester are registering particularly strong house price growth of more than 5% year-on-year.
A new 5% deposit mortgage scheme – backed by the UK government – was launched last week to give first-time buyers a boost.
Head of research at Zoopla, Grainne Gilmore, said: “More flexible working arrangements open up new opportunities for homeowners to move to a further-flung location.
“At the same time, the rollout of the 95% mortgage guarantee will mean more demand from first-time buyers, fuelling demand without replenishing supply.”
