The latest figures reflecting behaviour in the housing market reveal an increasing trend for stability, according to some commentators.

Data released today by the Council of Mortgage Lenders (CML) suggests that mortgage lending in April fell to £28.8 billion, nine per cent down on the March figure of £31.7 billion.

However, it remains almost a fifth (18 per cent) higher than the lending figures for April 2006 and is the highest April lending on record, the body states.

Director general of the CML Michael Coogan said that the market for homes across Britian seemed to be stabilising as rising interest rates begin to take effect.

Meanwhile, David Stubbs, senior economist at the Royal Institution of Chartered Surveors, commented: "Mortgage lending is slowing as rising house prices and interest rates continue to worsen buyer affordability.

"The recent interest rate rises [have] clearly started to affect consumer confidence and with a further rise expected in the summer, lending will continue to decrease."