Do Paragon Group results suggest housing market recovery?

On Tuesday, the British Bankers Association said that mortgage lending had fallen to 9 year low, 16% down on this time in 2009.

The Paragon Group says its profits rose almost a third in the past six months, to £66m. The company specialises in buy to let lending, to specialist landlords. It was forced to suspend its business in 2008 at the height of the credit crunch and only started lending again in September.

The BBC's Simon Jack asked the chief executive of the Paragon group, Nigel Tarrington if this is more evidence that the housing market is starting to recover?

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