HOMEBUYERS are planning to spend £10,000 less on a property than earlier this year, according to a survey.

On average, people in Britain who are planning to move house are budgeting £312,702 for their next home, AA Financial Services found.

In the first three months of 2018, people typically expected to pay £10,127 more - £322,829.

Trends differed across the country, with potential buyers in the North dropping their average budget the most, by £45,660.

People in the East, Midlands and Wales are also expecting to pay less; but those in Scotland, London and the South anticipate higher prices.

AA Financial Services said the findings suggest “word is getting out there are property bargains to be had this spring”.

Managing director David Searle said demand for homes appears to be strengthening in some locations.

“However, a house is ultimately worth what someone is prepared to pay, and price is one of several elements that go into a buying decision,” he said.

“Recent trends suggest asking prices are not being met.”