Estate agents across Bradford say the housing market is slowly improving after new figures revealed the number of people moving home hit a record low in the depth of the recession.

But despite the slight improvement, property experts in the district admitted things were still “challenging.”

Yesterday, the Office of National Statistics (ONS) said that, during the low point in 2008-09, only nine per cent of householders in England had moved to a new home within the previous 12 months – the lowest numbers since records began in 1994-95.

The figures are part of the latest chapter of Social Trends, published by ONS, which also revealed the number of loans approved in July, 2007, the month before the credit freeze began, was 62,263.

It reached a low of 17,421 in November 2008. Yesterday, the Bank of England kept interest rates at their record low of 0.5 per cent despite warnings that inflation could rise to 5 per cent in coming months.

John Watts, of Robert Watts estate agents, which has four offices in Bradford, said a lack of mortgages and funding was still hampering the market.

“The market has remained very, very challenging,” he said.

“The demand for property is there, there’s no doubt about that, but the number of ready, willing and able buyers is low because funding, deposits and mortgages are hard to come by, and the ability to proceed is tough.

“Unless you’ve got a ten to 15 per cent deposit as a minimum, you’re not going to be able to get a mortgage. The people who have got the money available are in a very good position.”

But Mr Watts said his firm had seen an increase in the number of sales during the past couple of years.

“We’ve just finished our figures for 2010 and all our four sales offices have sold more houses in 2010 than they did in 2009 and 2008. That’s a positive trend.

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