Land Registry date shows big fall house sales after Brexit vote

Figures released by the government show sales during July – the first month after the EU referendum – tumbling by well over a quarter in some cases, and a dramatic collapse of transactions in London.

The number of completed sales in England fell by 28.1 per cent to 66,870 compared with 93,040 in July 2015.

In Wales the fall was 23.4 per cent to 3,525 compared with 4,603 in July 2015.

The biggest collapse in sales was in London, down 43.4 per cent in July this year compared with last – 7,074 compared with 12,481.

Meanwhile separate data released by the government shows that in England annual house price inflation by the end of September – the latest available data – was running at 8.3 per cent which takes the average property value to £234,250.

This was after a September rise of only 0.2 per cent on average.

Wales shows an annual price increase of 4.4 per cent which takes the average property value to £146,388.

London’s annual price increase was 10.9 per cent which takes the average value to £487,649.

The East of England experienced the greatest increase in its average value over the last 12 months with a movement of 12.1 per cent – contrast that with the north east, seeing the smallest annual growth of a mere 1.5 per cent.


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Written by: Houseladder