As you know, this column does not tend to cover the myriad of reports on the housing market. We tend to focus on the big ones. Well, that’s a little unfair. No doubt Rightmove and the Council of Mortgage Lenders would say their reports are among the big ones. It is just that you have to draw the line somewhere. But on this occasion we thought the latest findings from the twosome were pretty interesting, pointing as they do to trouble ahead. This is what they said.

According to Rightmove, new sellers dropped their average asking prices by 1.1 per cent, or £2,474, in August. It was the third consecutive monthly fall.

Prices have now fallen by 3.4 per cent in the last three months, half-way towards wiping out the gains made in the first six months of the year.

Is the propensity to sell deteriorating? September sees 26,000 new properties come to market per week, the lowest since April.

Average unsold stock per agent stabilizes at 79 after six consecutive monthly rises.

As for the Council of Mortgage Lenders (CML), this is what it had to say: “Gross mortgage lending declined to an estimated £11.4 billion in August, down 14 per cent from £13.3 billion in July and 6 per cent from £12.1 billion in August 2009.

Apparently that fall in lending dragged it to being the lowest August total since 2000 (£11.1 billion). CML reckons lending volumes are likely to remain below last year’s level in the coming months as activity was buoyed by the upcoming end of the stamp duty holiday in the last few months of 2009.

CML Chief Economist Bob Pannell commented: “We face the prospect of a difficult second half of the year. However, the Bank of England is likely to keep interest rates at record lows for longer to support the economy. This will continue to alleviate payment pressures for many borrowers.”

Well Bob, you could say the housing market may face the prospect of a difficult six months. As for low rates helping, don’t forget VAT is going up next year. 2011 will be a tough one for house prices, all right.