The number of property sales received for registration by the HM Land Registry increased by almost 10 per cent in October 2018.
There were more than more than 106,800 sales of land and property in England and Wales that HM Land Registry received for registration in October 2018. This is a 9.86 per cent increase over September 2018 when 96,335 sales of properties were registered.
The data released by the HM Land Registry indicates stability in the residential property market. Of the 106,800 sales of property received for registration, flats were 19,345; detached properties – 25,066; semi-detached properties – 27,567; terraced – 28,352 and others – 6,553. Of these, 13,443 were newly built, a 12.5 per cent increase on October 2017.
There is a time difference between the sale of a property and its registration at HM Land Registry. Of the 106,883 sales received for registration, 31,119 took place in October 2018 with Greater London accounting for 326 residential properties for £1 million and over.
The most expensive residential sale taking place in October 2018 was of a semi-detached property in Kensington and Chelsea for £17,850,000. The most expensive commercial sale taking place in October 2018 was in Hammersmith for £109,800,000.
Property sales are likely to be subdued in November and December, a common year-end trend.
HM Land Registry has been collecting information on Category A sales from January 1995 and on Category B sales from October 2013.