The Council of Mortgage Lenders has said that all the evidence points to a soft landing for the housing market.
It said there is "no sign of a sharp collapse", or significant month on month falls.
The council explained: "The housing market slowdown is undoubtedly underway, but there are encouraging signs of a soft landing.
"While house price growth is clearly moderating, there is no sign of a sharp collapse - or indeed any significant successive month on month falls.
"On the whole the data is consistent with our expectation of a gentle slowdown, with the main impact of the slowdown being on transaction levels."
The CML's report examines a wide range of factors affecting developments in the housing and mortgage markets, and compares all the figures released over the last month.To read more about UK property, click here.
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