Mortgage availability increases, but house sales fall. Confused?

New figures from Moneyfacts and HMRC show that whilst mortgage availability is rising, property sales actually fell in August. Sales In August a total of 78,000 properties were sold, 6,000 fewer than the previous month of July. August generally sees less property sales, so the fall is not unexpected, perhaps more worryingly the figure is 3,000 lower than the same time last year giving cause for concern that the housing market is slowing down. At the peak of the property boom in July 2007 151,000 homes were sold. Mortgage lending Despite the drop in sales, the Council of Mortgage Lenders (CML) have also released figures this ...