Registered property transactions rose month-on-month from December to January, data collected by HM Land Registry shows.
In the first month of 2019, total registered transactions were at 99,372, up from the figure in December 2018, which stood at 88,785 – a 12 per cent rise.
On an annual basis, the total number of sales received for registration under freehold last month was 73,938, a 13.8 per cent decrease on January 2018, whereas newly built houses rose 4.6 per cent reaching 17,466.
Of the sales received for registration, 24,531 took place in January. The most expensive residential home was a terraced property in Kensington and Chelsea, which sold for £12.6m. In contrast, the cheapest residential property was in Country Durham, which went for £17,000.
The commercial sale that commanded the highest value was in Camden, at £32m. The cheapest was recorded in Bristol – £100.
It must be noted that there is a time difference between the sale of a property and its registration at HM Land Registry, typically between two weeks and two months.