Around 4.6% of UK households plan to buy a property in the next year – equating to a figure of 1.23m households.

The figure is the lowest since a survey conducted by Ipsos MORI for Markit and Knight Frank started asking the question in April 2014.

It also compares with a high of 6.7% of households in July last year.

Knight Frank believes that the proportion has dipped partly because of affordability but also because of low availability of stock.

According to the latest Knight Frank survey, a further 19% of households plan to buy a home within five years, and nearly 26% say in over five years’ time.

Around 19% of households have no plans at all to buy, and 31% of households are undecided.

The survey also asked people whether they thought house prices will rise.

Households in all UK regions expect them to do so.

A similar exercise by Zoopla also found high confidence among home owners about house prices.

More than nine in ten home owners (92%) out of almost 5,000 surveyed, believe house prices will rise by over 7% in the coming six months.