"The levels of supply and demand recorded aren’t where we would expect them to be at this time of year."
Its data also shows that the number of houses available to buy hit the lowest level ever recorded for the month of March, despite a month-on-month increase.
Additionally, demand for housing was at the lowest level recorded for the month of March since 2013, down by 4% compared to March 2018 and 25% from March 2017.
The average number of sales agreed per member branch remained at seven in March, the same level reported for the previous two months. Year-on-year, it was down slightly from eight in March 2018.
Mark Hayward, Chief Executive, NAEA Propertymark said: “Despite the fact that activity in the housing market increased in March, the levels of supply and demand recorded aren’t where we would expect them to be at this time of year.
"It’s clear buyers and sellers are still feeling cautious and holding off on making any decisions in light of the current political climate and economic uncertainty. However, recent house price data indicates we might see confidence in the market grow as house prices slowly begin to return to previous levels and we edge closer to the summer months.”
