Despite surging property prices, the number of people planning to move home has stayed the same.

A survey out by the Alliance and Leicester building society found that the number of people who want to buy a home over the coming year has remained the same over the past year, standing at five per cent.

The figure is the same as last year and has remained down on the high of two years ago of nine per cent.

The building society believes homebuyers remain cautious as most of those surveyed were moving because they need more space.

Realising the financial equity in their properties was cited as a reason for moving by just 10 per cent.

Moving out of cities is a key priority for people living in the south east, with 14 per cent saying they plan to head for the countryside.

"The latest findings show that despite contradictory messages from many commentators, demand for property is still strong," said Alliance and Leicester spokesman Paul Cooper.

"Over the last 12 months the number of people intending to move has been stable and we have seen a continuation of the trend whereby people are buying for lifestyle rather than financial reasons."