The number of properties available to buy has hit the lowest level on record for March, agents claim.

NAEA Propertymark’s March 2019 Housing Report found that an average of 37 properties per branch were available to purchase last month.

This is up from 34 in February but the lowest number for March since the data was first recorded in 2013.

Demand also hit its lowest level since March 2013, with 296 house hunters registered per branch, although this was up from 252 in February.

The number of sales agreed per member branch remained at seven in March, the same level reported for the previous two months, while the proportion of sales to first-time buyers fell from 30% to 26% between February and March.

Mark Hayward, chief executive of 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.”

Meanwhile, haart agents claim to have seen an increase in new buyer registrations, and the firm is even hailing the return of landlord purchasers three years since George Osborne’s additional Stamp Duty charge was introduced.

Its branch data showed new buyer registrations were up 7.8% annually and 23.2% on a monthly basis in March.

New listings were up 1.9% annually and 12.3% between February and March, while exchanges dropped 2.9% over the month but were up 10.8% compared with last year.

In the lettings market, haart reported the number of landlords registering to buy was up 7.9% on a monthly basis, although this was down 21.8% annually.

This also hasn’t translated into sales, though,  with landlord transactions down 8% on a monthly basis and falling 2.6% annually.

Additionally, the number of properties available to rent was down 5.2% on a monthly basis and declined 17.1% compared with last year.

Paul Smith, chief executive of haart, said: “Three years on from George Osborne introducing the 3% hike in Stamp Duty surcharges on second homes, landlords are beginning to come to terms with the additional costs and are cautiously entering the market again.

“Our branches across England and Wales saw a monthly uptick of 7.9% in the number of landlords registering to buy, a figure which has been continuing to grow since the start of 2019.

“Interestingly, sale prices to landlords are down by nearly 12% on the year which may be spurring on this activity – these price decreases could be causing the available stock to fall within lower Stamp Duty thresholds, making the Stamp Duty levy a little easier to stomach.

“Clearly investors are recognising the value that can still be found in buy-to-let property, especially in comparison to the overvalued and faltering stock market.

“Although the property market hinges on confidence, the FTSE100, gold and cash are far more volatile to socioeconomic impact, so investors are increasingly returning to property where they deem their money safest, and where the yields are highest.

“The market as a whole continued to gain momentum in March as the pent-up demand from a delayed Brexit continued to drive transactions.”