Estate agents have reported seeing more first time buyers in January than at any point in the previous eight months.

According to the National Association of Estate Agents’ (NAEA) January Market Report, 23% of overall sales made last month were to first time buyers, compared with 21% in December.

This represents the third consecutive monthly increase in sales to first time buyers. The number was last this high in May 2011 (24%).

NAEA President Wendy Evans-Scott said: “First time buyers seem to be making the most of the stamp duty holiday before it comes to an end in March. The NAEA and other property specialists campaigned hard for the government to introduce the tax exemption to support first time buyers