...while lending drops further

Chris Papadopoullos
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MORTGAGE approvals for house purchases declined for a fourth consecutive month as the market showed signs of slowing.

The 37,076 approvals in October mark a 17-month low, according to figures released yesterday by the British Bankers Association.

“With housing market activity appreciably off its early-2014 highs, we suspect house prices will generally rise at a much more sedate rate over the coming months,” said economist Howard Archer of market analysts IHS.