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Four househunters chased every property for sale in the UK during May, new research shows.

The National Association of Estate Agents (NAEA) says estate agents had an average 299 househunters registered with them during May, the highest level since September 2007.

And interest from potential buyers translated into sales during the month, with estate agents selling an average of 10.4 homes each.

The figures represent the highest level since October 2007, and the fifth consecutive monthly rise.

In a further positive sign, the proportion of homes sold to first-time buyers soared to 43%, nearly double the one in four homes that were sold to this group during the four months to April, and a level last seen in September 2001.

The NAEA welcomed the surge in first-time buyer numbers, saying the figures show this group is returning to the market in force and suggest that people want to buy now, before house prices begin to bounce back.

These figures come as research carried out for the Building Societies Association shows 59% of people think now is a good time to buy a property.

Around 49% of people also think house prices will increase in the coming 12 months, while 12% think they will stay the same.

Overall, people expect the average cost of a home to edge up by 1.4% in the next year, with only 27% of those questioned predicting further price falls, down from 65% in March.

But the pick-up in interest from potential buyers is not being matched by more homes coming on to the market, with the NAEA reporting that its members had an average of just 69 homes on their books in May, down from 76 in April.

Some commentators have speculated that the shortage of homes for sale, combined with rising interest from potential buyers, may be supporting prices, although others have warned that the shortage of supply could derail the recovery.

Gary Smith, president of the NAEA, said: "This is really good news for the housing market and the UK economy in general."

The survey adds to a recent run of positive data on the housing market.

But economists have warned that while activity in the market appears to have bottomed out, rising unemployment and the ongoing problems in the mortgage market mean further price falls are likely.