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Property sales down 27%

August 02, 2016

The Land Registry announced today it recorded 5,354 sale and purchase agreements for all building units in July, down 11.3% on June, and down 27% year-on-year.


The 12-month moving average for July was 4,759, which was 3.4% below the 12-month moving average for June and 35.7% below that for July 2015.


The total consideration for sale and purchase agreements in July was $36.1 billion, down 9% on June and down 34.8% year-on-year.


Among the sale and purchase agreements, 4,243 were for residential units, down 8.2% on the previous month but down 21.3% year-on-year.


The total consideration for residential units was $29.7 billion, down 8.8% compared with June and 33.3% less year-on-year.


The public made 384,052 land register searches during the month.


Sales of First-hand Residential Properties Authority