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Caan, who was appointed chairman of the company in 2008, said he expected both estate agents and buyers would get back into the market before the end of the year. Caan plans to unveil a series of initiatives in the coming months designed to put liquidity back into the housing market.

"The UK housing market is slowly recovering," Caan said. "We have already seen an increase in the number of inquiries on the site – but there are just not enough people putting homes on the market.

"Look4AProperty.com has planned a range of powerful products which will blow the current obstacles to sellers and buyers out of the water. We have prepared the site to help the market cope with the new demand."

The website, which features UK and overseas properties for rent or sale, has now incorporated Google Streetview for homes in 25 cities across the UK. It has a new-look homepage which helps users find property more quickly, and the entire website now operates faster.

Aaron Turner, founder of Look4AProperty.com, said: "The site is slicker, quicker and more effective - and our use of Google Streetview literally puts us streets ahead of our competitors."

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