Property sales down 2%

The Land Registry recorded 8,965 sale and purchase agreements for all building units received for registration in May, down 2% from April and 30.2% higher year-on-year.   The total consideration for such agreements rose 2.9% from April to $87.6 billion in May, representing a 45.4% year-on-year increase.   Of the agreements, 7,084 were for residential units, down 3.3% from April and 18.4% higher than a year ago.   The total consideration of residential units was $76.8 billion, a rise of 7.4% compared with April and up 45.7% from May 2020.   There were 515,805 land register searches last month.

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