Winkworth, the estate agency, is looking to raise £1 million via a flotation on the Alternative Investment Market (AIM) further bolstering the current confidence in the property market.

The family owned franchise business wants to float in November after small surge in property prices, particularly in the London area, where many of the Winkworth’s  offices are based.

Dominic Agace, chief executive and son of the founder, Simon said the money will be used to canvas regional  estate agents to join the group and hopefully expand their business at rate of 8 new agencies per year.

A  flotation would be second time for Winkworth, which had thought about an AIM flotation in 2006 before putting its plans on hold because of the poor market conditions that were too awkward to find opportunities.

Mr Agace commented to The Times newspaper “While I don’t think the market is booming again, we are not going to see another Lehmans and what we have now is a slow easing around the country, with the exception of London, which has strengthened more drastically. The current momentum will not stop unless there is a major shock.”

The current climate has left many smaller agents in a precarious position, possibly providing easy pickings for Winkworth, who said they would give new franchisees up-market facilities and the benefits of a  brand name.