The fall in completed house sales may reflect tighter lending criteria, according to Charles Haresnape of Aldermore...
He was responding to the latest Land Registry figures which showed a 13% decrease in completed house sales in England and Wales in June compared with the previous year.
Charles, Group Managing Director of Mortgages at Aldermore, said: “Housing supply continues to be a continual constraint on the market.
“The Housing Minister Brandon Lewis recently stated he believed “success” would mean building one million new homes by the end of the current Parliament.
“As today’s figures show, a wide-ranging and cohesive set of policies aimed at increasing the supply of affordable housing has never been more important.”
The data showed that the annual increase in in properties prices is 4.2%, taking the average value of a property in England and Wales to £184,682.
The number of completed house sales in June this year was 70,404, nearly 10,000 fewer than the same month last year.
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