A slowdown in October's housing market has been suggested in a new study by the National Association of Estate Agents (NAEA).

Following "continued uncertainty" in the current economic environment, prospective property buyers are putting their plans to purchase homes on hold.

Due to the smaller number of people wanting to buy homes, the housing stock on the books of estate agents has also dropped as NAEA members reported an average of 65 homes for sale in October, compared to 80 in September.

Furthermore, the number of sales agreed saw a fall, with members reporting an average of ten taking place in October compared the preceding month.

However, first-time buyers increased their share of the market from 8.8 per cent in September to 9.2 per cent in October as prices in certain areas have calmed, giving some new purchasers renewed enthusiasm.

President of the association Stewart Lilly commented: "All consumers need a period of stability in order to build up their confidence."

Despite the market slowdown, Lloyds TSB recently stated that Scotland's housing sector remains "buoyant".