The run of consistent house price growth in the UK housing market has possibly caught up with buyers and is now creating a market which is unaffordable for many house hunters. Prices then are responding and not rising in the latest data to emerge. Prices have actually fallen in the three months to April. A marginal decrease has taken place in the amount of 0.2%. This is the first quarterly decrease in almost five years.

According to the Halifax, house prices have fallen by 0.1% in the last month. This is a new trend to the housing market which has seen month after month of increase to the average price of a house within the market. The hopes and dreams of borrowers across the country falls with that increase and they have to rely on other forms of financing to afford homes. Couple that with rising inflation, and first time buyers are facing quite an uphill battle.

The average cost of a house is now sitting at £219,649.

Martin Ellis of Halifax commented on the latest data to surface, saying: "Housing demand appears to have been curbed in recent months due to the deterioration in housing affordability caused by a sustained period of rapid house price growth during 2014-16.”

Data from the Bank of England is now backing up the slowdown in the market. The number of mortgages approved has been in decline for two straight months.

Samuel Tombs of Pantheon Macroeconomics also commented on the latest figures regarding the housing market, saying: "House prices likely will continue to be underpinned by a shortage of supply, due to the high moving costs faced by existing homeowners. In addition, competition among lenders will continue to drive down mortgage rates this year, boosting the size of loans that some households can afford.”