Land Registry – Registered property transactions up in October
October saw an increase in the number of registered property transactions, according to HM Land Registry.
The price paid data looks at all transactions above £40,000. The figures show the market has seen an increase in property transactions between September and October, and also on an annual basis.
In October 2018 106,883 sales were received for registration by the Land Registry, up from 96,355 in September.
Of the sales received for registration last month, 81,051 were freehold, a 8.6 per cent increase on October 2017, and 13,443 were newly built, a 12.5 per cent increase on October 2017.
Of the 106,883 sales received for registration, 31,119 took place in October 2018. Of these, 594 were of residential properties in England and Wales for £1m and over, and 326 were of residential properties in Greater London for £1m and over. The West Midlands and Greater Manchester both saw five property sales of more than £1m, and Cardiff two sales of more than £1m.
The most expensive residential sale which took place in October 2018 was of a semi-detached property in Kensington and Chelsea for £17.8m. The cheapest residential sales in October 2018 were terraced properties in Ferryhill and Burnley for £19,000.
There is a time difference between the sale of a property and its registration at HM Land Registry, typically between two weeks and two months.
Source: Mortgage Strategy