The latest Royal Institution of Chartered Surveyors (RICS) and Ulster Bank Housing Market Survey showed a rise in transactions.

There were also increases in enquiries and new instructions, according to respondents. However, the majority of surveyors are still reporting falling house prices, with prices expected to continue to fall in the months ahead.

RICS Northern Ireland housing spokesman, Tom McClelland, said: "The dramatic improvements in affordability in the Northern Ireland housing market since 2007 have been highlighted by a range of surveys.

"With prices at the lower end of the market now so much more affordable and increasingly stabilising, there is evidence that if first time buyers have a deposit, there is enthusiasm to buy.

"That said, with wider economic conditions still challenging, we don't expect to see any major shift in the market, with seasonality likely to remain the biggest influence on activity for the foreseeable future."