With recent figures from the Council of Mortgage Lenders showing a fall in home loan lending between March and April, it has been suggested more has to be done to reinvigorate the market.
The CML statistics showed nine per cent drop to an estimated £10.4 billion in April – which translates to a 60 per cent year-on-year decline.
More people have to be in a position to buy to improve the situation, Home Builders Federation head of communications Steve Turner explained.
"The crux of the issue in terms of the housing market is getting banks lending again at sensible rates to people who want to buy homes," he said, adding recent government steps may help matters but lenders would have the final say in when the industry recovered.
With selling property still a tough prospect, some homeowners may decide to improve instead.
A recent Halifax study showed building a conservatory or loft extension were two of the most popular ways of adding space to a home.