The state of the UK housing market has one again come into focus as we reach the end of 2004. New figures show that the number of people taking out mortgages has fallen over the last month.

The Council of Mortgage Lenders say that the total value of all mortgages taken in November fell by 4% when compared to the figures for October. Looking at the past 12 months, the CML report that the gross value of mortgages has dropped by a dramatic 25%.

Signs of a falling housing market were also backed up by the Building Societies Association and the British Bankers Assocation. The feeling among some estate agents was voiced by property website Rightmove, which suggests that sellers may need to drop asking prices by up to 8% in order to sell during the winter months.

The run-up to Christmas is often a slow period in the housing market but recent figures do suggest that the market is in decline. Many analysts believe that the market will continue to be slow in 2005, although there is disagreement on whether or not we're likely to see a so-called crash.

Our housing market news page bring together the very latest information from UK housing surveys.