Renters have shown they are more positive about the property market lately, with the number of people looking to purchase their own homes having doubled during 2018.

The AA Financial Services has recently revealed the proportion of Brits claiming they want to move from rented accommodation to their own property has risen from 24 to 58 per cent throughout the year, reported Money Age.

This is despite the amount of money people plan to spend on a new home having also increased by nine per cent over the last six months to a high of £332,000.

AA’s director of financial services David Searle stated people have not been put off by Brexit and the uncertainty that surrounds it.

“The simple reason is that, for most people, decisions on when to move are dictated by job change, being closer to family or the needs of children,” Mr Searle said.

To encourage more first-time buyers (FTBs) to get on the property ladder, the government introduced relief from paying stamp duty last year on homes worth less than £500,000.

In this autumn’s Budget, the chancellor of the exchequer Philip Hammond extended the tax relief to those also buying shared equity homes. This will further stimulate the market and allow more FTBs to afford to become homeowners.

Despite the number of people entering the property market having increased lately, the proportion of British adults planning to move house has remained at a steady 12 per cent over the last year.

This could be why property owners are becoming more keen to embark on home improvement jobs, with Mr Searle noting Brits are set to borrow £12 billion to renovate their properties in the lead up to Christmas.

One job many might consider is a house extension so they can delay moving into a bigger home for a while. Take a look at loft conversion companies in Manchester for a better idea of how this could benefit you.