Home sales hit their highest level of the year in May but a banking group says the “heat is coming out of the housing market”.
Some 100,360 homes were sold in the UK during the month, up from 95,600 in April, data from HM Revenue and Customs (HMRC) shows.
Sales tend to pick up at this time of year, known as the spring bounce.
But the British Bankers’ Association said mortgage approvals – an indicator of future sales – had dropped.
The association said that the total of 65,132 approvals was down for the fourth month in a row and was 3.5% lower overall than in the same month of last year.
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