By Jonathan Davies

Property sales in England and Wales fell by 15% in May, according to the Land Registry.

There were 65,619 sales during the month, down 15% from May 2014. But there was huge fluctuation in prices, the Land Registry said.

In some property hot spots, prices were up 13%. But in stark contrast, the number of homes costing more than £1 million fell by 21%.

Land Registry said the rise in certain areas was due to a lack of supply.

Speaking to the BBC, Guy Meacock, head of the London office of buying agency Prime Purchase, said: "Normality has returned to the market, with the panic that has driven it in the past no longer present.

"It is more level and sensible, which is good news for buyers."

Separate figures released today showed that first-time buyers sales reached a pre-recession peak.