FTB activity at 10-month high

Demand from the important first time buyer market hit a 10-month high in March, according to the latest figures from the National Association of Estate Agents (NAEA).

Its monthly housing market report found that the percentage of sales being made to first time buyers increased from 23% in February to 24% in March. It last reached this level in May 2011.

The report also found that on average, estate agents branches had 297 house-hunters registered per branch in March compared with 293 in February.

Sales levels were consistent with February, with branches selling seven properties on average. Anecdotal evidence from NAEA agents suggests that the increase in interest from first time buyers in the last weeks of the Stamp Duty Holiday helped to support this figure.

Wendy Evans-Scott, president of the NAEA, said: “As our member agents predicted