The average number of sales agreed per estate agent branch rose to 8.14 in March, new figures from Propertymark show.

This was up from an average of 7.3 in February.

New buyer enquiries also rose to an average of 78 per branch, up from 70 in February.

In the lettings market, the average number of new instructions for properties to be fully-managed decreased slightly to 4.34 per branch, down from 4.5 in February.

Propertymark chief executive Nathan Emerson says: “March was a month that delivered some encouraging signs across the housing market, with sales agreed, buyer registrations and viewing activity all moving in a positive direction as we entered the traditionally busier spring period.

“Although inflation remained above target and global economic pressures continued to influence sentiment, we saw many buyers adapting to current borrowing conditions and proceeding where pricing expectations were realistic.

“We also saw improved levels of stock entering the market, which was helping to provide consumers with greater choice and creating a more balanced environment in some areas.

“However, affordability pressures continued to weigh heavily for many households, particularly as mortgage rates remained sensitive to wider economic events.

“Within the lettings sector, demand continued to significantly outpace supply despite a modest uplift in available stock.

“Many agents were reporting ongoing concern from landlords surrounding future regulatory changes, which were influencing investment decisions and contributing to longer-term supply challenges.”