New research shows that the property market is losing momentum .
The most recent Bank of England figures highlight that the number of mortgages okayed in April was less than for the previous seven months.
This follows news that the Nationwide disclosed that house price growth is slowing down, which could lead to a slow downturn of the UK housing market .
Bank of England data shows that housing market activity is beginning to lose momentum, after having picked up remarkably since spring 2005.
Although lower than in the last few months, mortgage approvals are still above long-run average and 13% higher than in May 2005.
Estate agents who have reported that new enquiries from potential buyers increased in April at the most slow pace in a year.
Affordability is still difficult for buyers, especially first-time buyers .
There may even be a UK house price crash.
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Property Market Loses Momentum
Wed, 31 May 2006
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