Reuters reports that official data showed that the number of homes sold in the UK fell by more than half last month after the scaling-back of a tax break designed to encourage home purchases during the coronavirus crisis.

Britain's tax office said 73,740 homes were sold in July on a seasonally adjusted basis - 63% fewer than in June when buyers had rushed to complete sales before a COVID emergency tax break was reduced - although 4% more than in July 2020. Sales were down 24% compared with the same month in 2019, before the pandemic.