- Land Registry completes 1,363,565 applications
- South East tops the table of regional applications with 314,893
- City of Westminster tops the table of local authority applications with 21,209
The Transaction Data shows Land Registry completed over 1,363,560 applications from its customers in April. This includes 1,325,062 applications by account customers, of which:
- 311,084 were applications in respect of registered land (dealings)
- 637,719 were applications to obtain an official copy of a register or title plan
- 170,455 were searches
- 79,723 were transactions for value.
Andy Sommerville, Director of Search Acumen, comments:
“The slight dip in property transactions in April comes as no surprise given the frenzy and doubt around what was supposed to be the most uncertain election in a generation. Historically, property transactions pick up during the summer with improved weather conditions, and there is a chance of extra momentum this year if we see a post-election bounce. For now, conveyancers will face heightened competition to maintain business levels until activity picks up again.
“We must hope this does not signal a flat-lining market, and the newly elected government must be mindful that if house prices are not reigned in, renters will find it increasingly hard to make the step into homeownership. Supply-side measures have to be bolstered and it is positive news to see a 31 percent increase in house building in the first quarter of 2015 over the previous quarter and an 11 percent increase over last year. These are baby steps, of course, but hopefully a sign of progress towards a healthy and stable housing market.”
Access the full dataset http://data.gov.uk/dataset/monthly-land-registry-property-transaction-data
