More than 60 percent of people selling their homes say they plan to use the proceeds to buy another property, according to a report by Centaline property agency.

The study, which was based on a survey of 800 homeowners taken between March 20 and April 10, showed 18.5 percent planned to leave the property market because they felt it had reached its highest point.

Nearly 10 percent said they were selling because they needed the money.