The number of houses for sale in Britain has surged to an eight-year high in the latest sign the property market is recovering from last year’s downturn.

The average estate agent had 31 homes for sale in the four weeks to May 19, up 20pc on the same period last year and the highest in data going back to 2017, according to Zoopla.

The figures suggest homeowners are starting to win back confidence after repeated interest rate increases last year prompted many to delay putting their house on the market.

Sales of family homes are recovering quickly after a huge squeeze on supply during the pandemic.

A recovery in sales of houses with more than three bedrooms boosted the total value of property on the market to £230bn this month – up £45bn from a year ago.

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