The study showed that mortgage approvals fell by 4,000 between March and April, to 107,000, the third monthly decline in a row.
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During April, the Bank of England also confirmed that mortgage lending rose by £8.9 billion, its weakest rise since September 2006, while consumer debt by half of its anticipated rate, at £498 million.
Commenting on the results, Gary Styles, strategy, risk and economics Director at Hometrack, admitted that the market was showing signs of a slowdown, with lenders hhaving to readjust their initial predictions. He said: "The UK housing market appears to be at a major turning point with house price growth slowing, mortgage lending easing and signs that labour market tightness is beginning to abate. It now looks likely that the housing market will start 2008 with far less bounce and vitality than in recent years and talk of even higher interest rates will do little to improve consumer expectations."
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Oliver Gilmartin, chief economist at the Royal Institution of Chartered Surveyors, added: "The housing market is cooling although prices continue to rise. The full effects of recent interest rate rises are yet to be felt, with a further slow down in price rises expected into the Autumn.
As part of the results the Bank of England also revealed that Britons have a combined debt of £1.5 trillion.
