House sales in June this year were 56% below the corresponding month in 2007, statistics from the Land Registry reveal.
There were 54,072 sales in England and Wales in June 2008, a drop of 69,221 from a 2007 high of 123,293 in June last year. The study follows a survey by the Intermediary Mortgage Lenders Association (IMLA) which suggested 68% of brokers have been unable to source a mortgage for a client since July. The statistics have been published as part of the Land Registry’s house prices survey for August. Annual house prices in England and Wales fell by 4.6% in August to prices last seen in the spring of 2007, it reveals. The average house price now stands at £174,493, a month-on-month decrease of...
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