More lending needed, says online property firm

Posted: 29 Apr 2009 12:08:28 GMT

An online property company has called on banks and building societies to increase lending to ensure house prices improve.

Findaproperty.com said that it is vital more money is made available to fuel the property market.

In recent months, there have been a number of signs that the market has started to pick up again after months of low sales figures and overall interest.

HM Revenue & Customs reported this month that 60,000 properties had sold for over £40,000 in March 2009 - an increase of 39.5 per cent on the previous month.

Nationwide Building Society also indicated that house prices went up this spring, after months of fees moving in the opposite direction.

Michael O'Flynn, content editor at FindaProperty.com, said: "It is, of course, important buyers remain interested and that we see an increase in their numbers. At the moment, transaction levels are very low and the market won't improve unless that picks up."


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