Mortgage approvals fall in June

A fresh warning over the fragile state of the housing market has been sounded after Bank of England figures showed falling mortgage approvals in June.

A total of 47,643 loans were approved for people buying a property during the month, down 4% on May and below the 50,036 average for the previous six months.

The figures come after building society Nationwide said a shortage of buyers last month sent house prices falling for the first time since February, with average prices dipping 0.5%.
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