The number of potential home buyers has jumped by a fifth in August compared with a year earlier, after the Bank of England cut interest rates for the first time since Covid. 

Estate agents have received 19pc more enquiries about homes for sale this month so far than during the same time a year ago, according to Rightmove. 

It comes after the bounceback started gathering momentum in July when interest from potential buyers was 11pc higher than 12 months earlier. 

The return of buyers to the market follows two brutal years after Liz Truss’s disastrous mini-Budget and soaring inflation.   

However in a further sign of recovery, the number of agreed sales has risen by 16pc compared to last year when mortgage rates were near their peak. 

Read the latest updates below.