Data from the Bank of England points towards a cooling UK housing market as figures show mortgage approvals are lowest since July 2013.

Homeowners can expect a considerable slowdown in house price growth with only a 0.6% rise this month based on Halifax data.

Figures released from the Bank of England show the number of mortgage approvals has increased in June.

Data from the Land Registry show a decrease in prices in seven out of ten areas with a sharp rise in sales of £1m properties.

New data from the Nationwide reveal London homes increased in value with average prices now over £400,000 for the first time.

The number of mortgage approvals have reduced in the last four months following the Mortgage Market Review and worries about interest rates.

The average price of a UK home last month has increased by the biggest margin for ten years according to the Halifax.

The European Commission is concerned with Britain's house price inflation calling on the Chancellor to “deploy appropriate measures”.

The regulators are introducing tougher tests for home buyers based on affordability to prevent mistakes leading to the financial crisis.

Data from the Bank of England shows the number of people taking out mortgages in February has fallen for the first time in the last year.

Rightmove, stated that record numbers of houses are being put on the market for sale with near-frenzied buying sending asking prices to record levels.