Property registrations slipped annually in England and Wales in June, but logged stronger short-term performance, according to a report Friday from the U.K. government’s Land Registry.
There were 85,493 properties registered across the two countries last month, a 7% decrease from the same time in 2017, when just over 92,000 properties were registered.
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But June’s figures were an increase of 2.4% compared to May, and 9% more than the 78,408 registrations the Land Registry received in April, according to the data.
In England and Wales, all land or property either purchased, given, inherited, exchanged or mortgaged must be registered with the Land Registry. There can be a time difference between the sale of a property and its registration, according to the report.
Terraced houses remained the most popular type of property last month with 23,243 registrations. They were the most registered property in both April and May and also at the same time last year. Semi-detached houses ranked as the second most-registered type of property, logging 22,251 registrations.
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Of the 85,493 sales received for registration, 22,281, or 26%, took place in June.
Only 1.7%, or 387, of those sales were priced at £1 million (US$1.31 million) or more, and over half (230) were located in Greater London. June’s priciest residential sale was a £28.5 million (US$37.36 million) home in London’s posh Royal Borough of Kensington and Chelsea. In comparison, the most expensive transaction at the same time last year was for an £11.24 million (US$14.73 million) flat in the same borough.
Just one property in each of the cities of Birmingham, Greater Manchester and Cardiff sold for £1 million or more in June, the report said.