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Land Registry Registrations Comeback as Property Market Recovers
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Land Registry data suggests a recovery for the property market as last month’s transactions witnessed an increase.
The most recent Land Registry’s Price Paid Data report, recording the number of sales lodged for registration, reveals that there were 77,166 residential transactions during May.
This figure increased to 6.7% in April but decreased to 4.2% annually.
Of all registrations that were received, in May, the Land Registry claimed that 21,349 occurred during the month.
375 of these were for residential properties in England and Wales for £1m.
London had most million-pound sales in the month at 215, while Birmingham and Manchester had one each.
The most expensive residential sale during the month was of a detached property in the Royal Borough of Kensington & Chelsea for £15.7m. The cheapest was for two properties in Rushden, east Northamptonshire, for £9,500.
The time lag at the Land Registry means it can take months for property transactions to appear, but the latest data reflects what many agents are describing as a topsy-turvy and unpredictable market.
Transactions filed to the Land Registry had dropped 27% between January and February, before increasing 5.3% in March and then falling 13.4% in April.
