Most recent housing survey from the National Association of Estate Agents depicts that the house buyers are returning to the market, tempted by the record low mortgage interest rates and fall in the house prices to an affordable level.

Estate Agents witnessed a significant increase, from 265 in April to 299 in May, in the number of potential house buyers.

It is the uppermost level recorded by Estate Agents since September 2007 and an increase from a low of just 186 in November last year.

An estate agent based in Surrey, Wendy Evans-Scott, said, "I am pleased to report much higher levels of activity. There is a good demand from eager buyers keen to sink their money back into property and out of low-interest savings accounts."

The increase in the potential house buyers was witnessed in the midst of warnings that lenders are on their toes to increase their rates.

On the other hand Halifax stated that the average value of a home increased 2.6 % in May to £158,565.