Figures released by the National Association of Estate Agents from its March housing market survey have revealed a leveling of activity in the residential housing market.

Buyers, sellers and completed house sales were all at a similar level to the same period last year. March is traditionally a busier time in estate agency than February and March’s figures reflected this, with a slight upturn in activity from last month.

The number of houses for sale in March increased by 8.7% from figures reported in February. NAEA members across the country reported an average of 62 properties for sale in March, relatively level to the 61 recorded in March 2006.

The number of people looking to buy property increased in March by 11.6% from February and by 3.7% from the same period last year. Average sales increased in March to 14% by 1% from February, which mirrors figures reported in March 2006.

In addition, first time buyers claimed 12.6% of the market up from 12.3% in February, and encouragingly this is up from 8.9% in the same period last year.

Charles Smailes, NAEA president, said: “It appears that we are finally hitting a period of leveling in the residential housing market. However, this is unlikely to last. There is a great deal of uncertainty in the market at the moment. The increase in interest rates and the implementation of Home Information Packs are set to have a significant impact.”