Over eight in ten (85%) estate agents reported an increase in the number of buy-to-let investors active in the market last month.
In the rush by investors to beat the Stamp Duty surcharge, buyer demand was at a 12-year high in February, says the NAEA.
First-time buyers were elbowed aside, with sales to first-timers falling 5%.
There were an average 463 house hunters registered per member branch – the highest since August 2004.
The number of properties available per branch increased marginally from 33 in January to 35 in February, as the number of sales agreed per branch in February increased too.
On average, each branch sold nine properties, with 24% going to first-time buyers.