The number of sales received for registration in England and Wales dropped from January to February, according to new data from HM Land Registry.
In total, there were 82,268 sales received in February compared to 99,372 the month before.
Looked at compared to February 2018, there was a 0.5 per cent drop in freehold properties recorded, at 60,910, and a slight increase – 0.1 per cent – on newly built properties, at 16,157.
Of the February measure, 23,674 sales occurred in February. The most expensive residential property transacted was a flat in Kensington and Chelsea priced at nearly £10m, and the cheapest a terraced house in Hartlepool, at £19,000.
Meanwhile, the most expensive commercial transaction was for a property in Woking, where £23.3m changed hands, and the cheapest in Kensington and Chelsea, valued at £125.
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.