Big growth in buyer interest in housing

The number of buyers registering with estate agents grew by 18 per cent in February, the highest figure since a 23 per cent rise in February 2007, Hometrack said.

But much of this was an “artificial boost”, brought about by first-time buyers trying to beat a stamp duty holiday, the study said.

Despite the “seasonal pick-up”, house prices remained flat for the second month in a row, with Greater London the only region to record any increase, a 0.1 per cent rise.

Estate agents and lenders have reported increased interest from first-time buyers as they rush to complete deals before the two-year stamp duty holiday for this sector of the market ends in March. The greatest increases in first-time buyer numbers were reported in the South East, where they were up by 28per cent, and the South West, which recorded a 22 per cent rise.