However, the NAEA insisted that buyers are still failing to overcome the significant barriers to home ownership.
In its monthly market report, it showed the average number of sales agreed per branch stayed at eight for the fourth consecutive month, while the average number of properties for sale per branch decreased slightly from 69 to 68.
In May, an average of 275 people registered with a branch compared to 277 in April. However, the NAEA said this was still higher than May last year when an average of 265 people registered with a branch.
President of the NAEA, Wendy Evans-Scott said that, while demand for property remains consistent, the barriers to buying are still difficult to overcome for the vast majority of consumers.
She said: “Our members have likened the housing market to an obstacle course, with many falling at the first hurdle as the finance required to buy just isn’t available. If they can actually get finance, they are struggling to find the right property as there is not enough supply to offer the choice.
“Sales have continued at a similar level thanks in part to increased activity within the £1m plus homes category with significant interest from foreign buyers in London and the South East. But there are severe restrictions elsewhere in the market as buyer interest has failed to translate into transactions.”
She added that the banks need to find a balance between the loose lending of the boom and the rigidity of the current lending rules. “House buyers need the government to act in a sensible and proportionate way by encouraging the banks to offer adequate financial help to buyers.”
