By Marcus Leach

According to HM Revenues & Customs (HMRC) the number of properties sold in the UK in August fell to 78,000.

July had seen the highest total for a year, but August's figures were 6,000 lower than the previous month.

Despite August being considered a quiet month due to the summer holidays this year's figures are 3,000 down on the same time last year.

To put the data into context, at the height of the property boom in July 2007, 151,000 homes were sold.

But since then sales have been on an almost continuos downward spiral as sellers continue to remain defiant on dropping prices.

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