THE National Association of Estate Agents' housing market survey for March indicates there are still plenty of people eager to buy and to sell, but they are becoming increasingly thoughtful about their decisions.

According to Julie Westby, president and acting chief executive of the NAEA, ongoing political developments on the world stage are likely to have a strong impact on buying and selling decisions over the remainder of the spring.

Ms Westby said: "Our latest findings show buyers and sellers coming into the market in large numbers and sales figures climbing for the third consecutive month, which indicates that there are many people who are serious about moving.

"But they are increasingly taking their time, which suggests a new note of caution that is likely to be the result of political uncertainty. Until the world picture takes on a settled outlook people will, quite understandably, exercise restraint."

The NAEA's March survey shows sales climbed for the third consecutive month to the highest level since September 2002 and the number of transactions recorded rose to the highest level since November 2002.

It also shows the number of viewings conducted to be higher than in February and stock levels rising to the highest level since August 2002.

This is a promising sign for many would-be buyers, who have been struggling for months to find suitable property in the face of a shortage of quality properties on the market.

The average number of viewings required to secure a sale stands at 14, a figure which represents a slight increase since February, but which is the average for the past 12 months.

As further evidence that buyers are deliberating more slowly, the NAEA says the time between instruction and agreement to sell now averages eight weeks, a longer period than at any time over the past 12 months.

According to the NAEA's statistics, house prices across the country in March 2003 were 13 per cent higher than in March 2002, a figure that masks wide differences in various parts of Britain.