Confidence in the property market has grown as more people have bought properties rather than remortgaging existing properties, according to figures from Moneysupermarket.
There was a 20% rise in the number of searches for house purchase mortgages since January while searches for remortgages fell by a third at the end of August.
Hannah-Mercedes Skenfield, mortgage spokesperson at Moneysupermarket, said buyers have returned to the market.
She added: “Our figures provide fresh evidence that appetite to buy a house is coming back into the market. Perhaps the public is becoming convinced that prices have stabilised.”
