Home buyers remain defiant despite rising interest rates

The findings show that 4% of Britons expect to move house within the next year, a slight decrease on the 5% of those questioned in the spring who said they intended to move within a year. The findings also show that long-term confidence in the property market is stable, with 7% of Britons claiming they will move within the next two years - the same as in the spring.

The movingimproving index found that people in London and the North West are the most likely to be planning a move within the next two years, at 16% in each region.

Alliance & Leicester's quarterly movingimproving index asked a GB representative sample of 4,000 people if they intend to buy a home in the near future and, if so, why they intend to move.

Key findings:

* 4% of Britons plan to move house within the next 12 months. A further 7% are looking to move house in the next two years.

* Men are more likely than women to move over the next two years - at 14% compared to 10%.

* People in their twenties are the most likely to move house, with one in four - 25% - claiming they will move within the next two years. The over sixties are the least likely to move, at just 3%.

Reasons for moving:

* The main reason why people wish to move is in order to have a property with more bedrooms (18%). This was also the greatest motivation to move house in the spring, when 19% of people said they wanted to move to a property with more bedrooms.

* 17% of Britons regard their property as an investment and hope to take advantage of higher prices and sell up in order to make money - an increase on the 14% in the spring.

* The disappointing British weather has made its mark on homeowners, as just 8% claim they will move this summer in order to have a bigger garden - a decrease on the 10% who had the same motivation in the spring.

* 17% of people plan to move in order to gain some independence, while a further 16% intend to move as they see homeownership cheaper than renting.

* 7% of people plan to buy their existing council-owned property while just 5% are downsizing to a smaller house.

* 8% of Britons are seeking a change of environment and plan to move from the town to the country, while a further 11% claim that their key reason for moving house is for a change in neighbourhood.

Regional findings:

* People in Greater London and the North West are the most likely to move house within the next two years, at 16% in each region. Those in the South West and East Anglia are the least likely to move, at 8% each.

* We are most likely to see people in the East Midlands make a house move over the next year, with 8% in that region planning to move. People in the South West are the least likely to move within the next year, at 1%.

* People in London are the most likely to move house in order to gain a bigger garden, at 18%.

* The Welsh are the most likely to move to a house with more bedrooms, at 32%. West Midlanders are the least likely to move to a house with more bedrooms, at 6%.

* Those in the East Midlands are the most likely to move to a property in the countryside in order to have a change in environment, at 27%.

* The Scots are the most likely to sell in order to make money, at 30%.

Paul Cooper, Head of Mortgages at Alliance & Leicester, said: "It is encouraging to see that confidence in the property market remains buoyant, despite the interest rate rises we have seen over recent months. While there has been a very slight decrease in the number of people planning to move house over the next year, reasons for moving remain positive, showing that it really is business as usual for the nation's homeowners.

"Despite the increase in interest rates, people are still either hanging on to their homes or moving in order to upgrade, showing little evidence that borrowers over-stretched themselves when interest rates were low. I would urge any future movers to borrow sensibly so their repayments remain affordable should we see further rises in the base rate."