“While the annual price increase of 4.2 per cent in the average house price will bring positive news for homeowners, the 13 per cent decrease in completed house sales in England and Wales compared to June 2014 is worrying news. The fall may in some part reflect the impact of tighter lending criteria, but price rises are likely to prove a constraint on the number of first time buyers.
“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.”
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