Despite Council of Mortgage Lenders' (CML) figures showing that there was a slight reduction in gross home loan lending in May, the head of mortgages at independent financial adviser group Bestinvest said there are a number of positive housing market trends at present.

Peter O'Donovan suggested that the market currently has a healthy number of potential property buyers, and recent research from companies such as Nationwide Building Society and Halifax have shown house prices are on the up.

"These sort of figures [indicate] that purchases are increasing, people are considering selling and moving on, and the properties will start to come back on the market,"he explained.

Private landlords looking to add to their portfolios may also be interested to know that Mr O'Donovan thinks the average value of housing is unlikely to drop any further.

The CML revealed this month that gross mortgage lending totalled around £10.3 billion in May, which was 58 per cent down on the same month in 2008.

Written by John Weeks
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