Sales to first-time buyers have hit an eight-month low as demand dropped across the board during October, agents say.

However, the claim by NAEA Propertymark does not tally with latest Bank of England data which records a rise in first-time buyer activity last month.

NAEA Propertymark’s latest Housing Report says the proportion of sales made to first-time buyers fell from 23% in September to 22% last month, the lowest since February when the same pecentage was recorded.

The number of sales agreed per branch overall was also flat at eight per branch, while the number of house hunters has dropped 11% to 349.

Meanwhile, the number of properties available to buy on estate agents’ books increased marginally from 41 in September to 42 in October.

When properties did sell last month, the number selling for under the asking price dropped four percentage points to 78% while just 4% sold for above the listed value.

Mark Hayward, chief executive of NAEA Propertymark, said: “First-time buyers have felt locked out of the market for some time and our figures continue to highlight how the problem is only getting worse.

“However, following the announcement of the abolition of Stamp Duty for first-time buyers in last week’s Budget, we hope to see more first-time buyers coming to the market and making their dream a reality.

“We do however need to realise that if we don’t have the supply to meet the increased demand from first-time buyers, it’s likely we’ll see house prices increase.”

Yesterday’s data from the Bank of England, however, points to a rise in first-time buyer activity in October. See next story.