The Council of Mortgage Lenders (CML) has published mortgage lending figures for the first quarter of the year, showing that the number of loans approved for house purchases fell to 142,000. The figure is slightly above the lowest on record, which was in 1975, when 140,000 home loans were approved in the first three months of [...]

More: Lending for new house purchases plummets

I think we are going to continue to see this trend over the next 6 months until markets free up. I also think the housing crash will continue even further over the next 12/18 months