The UK property market is finally feeling the effects of successive interest rate increases, as house prices begin to ease. House buying activity is expected to slow down in the coming months. Loan approvals for house purchases are already down on last year's level and fewer people are looking around homes with a view to making a purchase. Despite this, changes in lending criteria are ensuring that there is still a reasonably high level of interest, as many buyers find they are able to arrange a suitable mortgage.