PROPERTY sales reached a ten-year high last month, according to a new report by the National Association of Estate Agents (NAEA).

The number of agreed sales was said to be 11 per branch in February, the first time the figure had surpassed ten per branch since September 2007.

The number of properties available to buy on estate agents’ books increased to 44 last month, up 25 per cent from 35 properties at the same point last year.

Sales to first time buyers (FTBs) did dip to 22 per cent in February, down from 30 per cent in January.

Also, while sales were high, 74 per cent of properties were sold below the original asking price, prompting the NAEA to suggest sellers were taking a “pragmatic approach” to their property transactions.

Mark Hayward, chief executive of NAEA Propertymark, said: “Sales reaching a ten-year high indicates the housing market is moving in the right direction. However, FTBs need to be a priority; the number of sales made to the group dipped in February when it should be growing.”