'Property market confidence returns'

Posted: 21 Aug 2009 10:07:28 GMT

People in the UK are showing more confidence in the property market, according to the National Association of Estate Agents (NAEA).

Responding to the latest Council of Mortgage Lenders' (CML) figures, which showed that mortgage lending increased by 26 per cent between June and July, NAEA chief executive Peter Bolton-King said that the market is beginning to climb again.

The CML's data suggests that the property market may have now reached rock bottom, he added, before emphasising that it would be wrong to presume it had completely recovered.

"We would call on the banks to do all that they can to ensure that responsible people are given adequate access to responsible lending. That is the only way to develop a real recovery," the chief executive remarked.

Earlier this month, the CML revealed that there was a slowdown in the decline in buy-to-let mortgage lending in the second quarter of 2009.


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