For the first time since 2011 the number of home movers has decreased due to the low availability of the ‘right type’ of homes slowing the market.
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Home buyers borrowed £11 billion in November up over 5% on the month reflecting a stable market and aspirations for home ownership.
The rise in property values for the East of England are leading the market with new-build homes seeing a 32% price increase in the last year.
The number of first time buyers reaches an all time high last year with more people opting for longer term mortgages of 30-years or more.
After years of falling rates the 10-year fixed rate mortgage costs are beginning to rise according to research from Moneyfacts.
House prices will rise next year but at a slower rate according to the Halifax outlook report UK towns record biggest gains for 2016.
At the end of December phase two of the Help to Buy scheme is going to be withdrawn by the government after a successful three years.
Data from the CML shows the number of loans to homebuyers is 8% lower for October indicating a slowdown in the UK market.
House prices for London fall for the month of October as the UK property market slows although areas outside the South East see growth.
Projections from Hometrack is to expect above average house price growth from regional cities to offset lower price growth in London.