The increase in mortgage lending between June and July this year is evidence that confidence is returning to the property market, it has been suggested.

Peter Bolton-King, chief executive of the National Association of Estate Agents (NAEA), said that the 26 per cent rise in home loan activity reported by the Council of Mortgage Lenders (CML) may mean the sector has reached rock bottom and is beginning to climb.

Potentially good news for private landlords was also revealed last week, with the CML publishing figures that showed the decline in the number of buy-to-let mortgage advancements had stabilised in the first quarter of 2009.

Mr Bolton-King indicated that it would be wrong to presume the property market had recovered, but there have been signs of improvement.

"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,"he commented.

Written by Sarah Field

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