The number of houses mortgaged in Spain in June this year declined by -42.4% from the previous year, (June 2010), the Spanish statistical office (INE) has reported. On a monthly basis average mortgages decreased by -13.1%, compared to May.

The INE released data reporting how the number of mortgage approvals has fallen every month for the past 14 months, to June this year.

The INE’s monthly report also showed that the number of monthly mortgage approvals has fallen by -24.9% in the first half of this year alone.

The June decline was even greater than that seen in May, when the figure dipped by -32% compared with to same period last year.

Apart from the high unemployment and poor condition of the housing market in Spain, another reason for a fall in mortgage approvals could be because so many young Spaniards are leaving the country.

The Authorities in the UK have reported how the number of Spanish nationals enrolled onto the social security system increased last year by a massive 85% on the previous year.

The figures were recorded from April 2010 to April 2011 when a total of 25,000 arrived in the UK to look for work over that period.

The jump in figures puts Spain at the head of the table when it comes to percentage increases of immigrants to the UK, ahead of Pakistan, Sri Lanka, Lithuania and Ireland.