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Property sales down 17%

March 02, 2016

The Land Registry recorded 2,583 sale and purchase agreements for all building units in February, down 17.3% on January and down 68% year-on-year.


The 12-month moving average for February was 5,458, which was 7.7% below the 12-month moving average for January and 25.6% below that for February 2015.


The total consideration for sale and purchase agreements in February was $16.5 billion, down 20.4% on January and down 65.4% year-on-year.


Among the sale and purchase agreements, 1,807 were for residential units, down 11.6% on the previous month and down 70% year-on-year.


The total consideration for residential units was $11.8 billion, down 25.5% compared with January and 71.2% less year-on-year.

The public made 287,049 land register searches during the month.

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