The data contained within the most recent HM Land Registry Price Paid data shows a 12% increase in sales. This is based on over 95,500 sales of land and property in England and Wales during July, compared to 85,493 in June.
Property sales increased across the board, but the biggest increase in house sales was for detached properties, which increased by 16% compared to June.
Of all sales that were received by HM Land Registry during July, 72,275 were freehold. This shows a 3.7% year on year increase compared to July 2017. The only decline was the volume of properties which were newly built, this was 43% down compared to July 2017.
It comes as little surprise that the most expensive residential and commercial transactions in July were both in London. The most expensive residential transaction was for a terraced property in the Royal Borough of Kensington and Chelsea, for a total value of £18,500,000. The most expensive commercial transaction in July 2018 was for a property in the City of Westminster, totalling £117,450,000.
In July 2018, a total of 526 residential properties in England and Wales sold for £1,000,000 or over. As expected, a significant proportion (300) of these were for properties in Greater London.
There’s a difference between the sale of a property and its date of registration at HM Land Registry. Of the 95,721 house sales received for registration in July, 24,719 took place.
A more in-depth look at the full Price Paid Data can be seen on the HM Land Registry website.