A better balance between the number of homes for sale and the number of registered home buyers is emerging, according to the latest NAEA market report.
Its October survey found that member agents reported an average of 53 properties for sale per branch - 15 per cent higher than the monthly average for the rest of 2014 and the highest number recorded on books since October 2013.
An average of 51 properties was recorded per branch in September.
While supply showed signs of an increase, the number of house hunters registered per NAEA member branch fell, from 406 in September to 380 in October, easing the balance between the number of available homes and demand.
The average number of homes sold during the month remained static on September figures, at average of nine sales per NAEA member branch.
The number of FTBs recorded fell, decreasing six percentage points in October compared to the previous month's figures, to 24 per cent of total sales from 30 per cent of total sales in September.
When asked if the MMR had led to a direct decrease in the overall number of home buyers since it was introduced six months ago, 79 per cent of branches agreed it had affected the current number of buyers.
With the exception of September 2014, in which 406 home buyers were recorded on average per branch, the number of house hunters registered per member branch had shown a decrease on figures recorded in April 2014 (392 home buyers) - the month MMR was introduced.
NAEA member branches also said they believed the MMR had particularly affected demand among FTBs, with 70 per cent of member branches reporting the implementation of MMR had led to a decrease in the number of FTBs since it came into force.
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