The most recent figures from the Council of Mortgage Lenders (CML) indicate that the property market is "inching its way back to recovery", according to the president of a UK-based estate agent body.

Gary Smith from the National Association of Estate Agents (NAEA) said that the latest market observations indicate that home movers are returning to the sector.

Earlier this week, the CML said that lending for house purchasing showed material annual growth in July with total gross lending reaching £14.5 billion.

It marks the second consecutive month that there has been an increase, although the figure is still considerably down year-on-year.

Private landlords looking to sell their homes may well have witnessed more interest in their bricks and mortar.

Mr Smith said that NAEA research found that first-time buyers have shown more confidence in the industry since the turn of the year and "now the rest of the market is following".

Written by Claire Doyle

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