Evidence has emerged from the Council of Mortgage Lenders (CML) showing that the lending rate is decreasing, and therefore the housing market is being less stimulated.

As interest rates are expected to spike next year, with house prices still high, house buyers have had to become a lot savvier.

Gross mortgage lending finally took a fall, dropping by 1% in September compared to August. However, this was still up 10% on September last year.

“Uncertainty over when we will see the first increase in UK base rates is exacerbated by weaker growth prospects in several major economies, including the eurozone. Recent indicators and policy actions corroborate our view of a gentle easing in market conditions. There is growing evidence that mortgage lending activity, and the housing market, are sitting on a plateau,” said the chief economist of the CML, Bob Pannell.

The problem with a plateau in lending is that less people will be able to buy homes and the value of houses could crash again, undermining any good that the Help to Buy scheme managed to bring to the market. Despite the property market seeming to have stabilised this year, there may still be some turbulent times ahead.