Homes took less time to sell in quarter three than they did in the preceding three months, new figures have revealed.

LMS, a conveyancing firm which provides home information packs (Hips), said that it took the average home 49 days to sell between July and September, compared to 53 days between April and June.

Dominic Toller, director of marketing and new business at LMS, said that Hips were probably not responsible for the fall, saying it was more likely "due to a decrease in the number of properties on the market. With volumes down, the market tends to be more efficient.

"Over the next few months, the market should start to feel the real benefit of Hips with efficiency improving and cancellations going down. With a bit of luck we’re only months away from all properties requiring a Hip before marketing," he added.

However, the National Association of Estate Agents believes that the decrease in the number of properties available is partially due to Hips, saying that the number of four bedroom homes put on the market dropped markedly after the scheme was introduced for them on August 1st.