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Land Registry reveals another big drop in new build purchases

  • 29/01/2020
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Land Registry reveals another big drop in new build purchases
The number of new-build properties bought in December was 9.1 per cent lower than the same month the year before, new data from the Land Registry has revealed.

It found that just 9,699 of the sales registered were on newly-built homes.

This follows the figures for November, when new-build sales were down by 19 per cent on an annual basis. 

In total 83,715 sales were registered in December, down from 92,152 in November and 95,307 in October.

Of these, 64,012 were for freehold, down 5.5 per cent from the same month in 2018.

The most expensive residential sale during the month was the £39.5m paid for a flat in the City of Westminster, while at the other end of the scale a terraced property in Seaham, County Durham, went for just £20,000.

On the commercial side, the largest deal was for more than £125m for a property again in the City of Westminster, dwarfing the £350 paid for a commercial property in Lytham St Annes.

Around 453 sales in England and Wales were for £1m or more, with 275 of those taking place in greater London. Two were in the West Midlands, two were in Greater Manchester, while one was in Wales.

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