South East no longer leads housing market

The survey of 4,000 people found that the South West came out top for 14 per cent of people looking to move in the next year. Broken down by age the survey found that 16 per cent of men in their ‘20s and 15 per cent of women in their ‘50s were the most likely to be planning a move to the area.

London and the South East, which are traditionally the driving influence on the housing market were relegated to second place, with 12 per cent of the vote each.

The research found that prospective homebuyers have become more conservative in the light of the events of 11 September. In the week before the atrocity 25 per cent of people questioned were considering moving outside their region, and in the week after this dropped to 14 per cent. But the latest study discovered that the proportion of people looking to stay within their town increased from 22 to 33 per cent and 10 per cent were looking to move only a mile from their current home.

Geoff Mozley, marketing manager, mortgages and insurance at Alliance & Leicester, said: "The local focus of many homebuyers can partly be explained by the rise in the proportion of people in their ‘20s who are looking to get on, or work their way up, the property ladder. Our autumn figures suggest that 20-somethings have overtaken those in their ‘30s as the people who will drive the demand for property this autumn."