Land Registry figures show a rise in new build sales year on year

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There was a 10% increase in new builds registered as sold in England and Wales in the 12 months to May 2019, compared to May 2018, according to the latest official figures to be published.

Overall there were 85,667 sales received for registration by the Land Registry of which 25,392 took place in May 2019. Some 64,481 were freehold, up 3.9% year on year and 12,423 were newly built, a 10% increase on May 2018.

Of these 459 were residential properties in England and Wales for £1 million and over, 266 were Greater London for £1 million, one was in the West Midlands for more than £1 million, four in Greater Manchester and none in Wales.

Terraced homes are still the most popular with 22,734 sales registered in May 2019, followed by 22,181 semi-detached homes. The figures also show that 18,783 detached houses were registered and 15,811 flats or maisonettes.

The most expensive residential sale taking place in May 2019 was a flat in Kensington and Chelsea, London, for £12,115,625. The cheapest were terraced properties in Peterlee and Shildon, County Durham, for £18,000.

The most expensive commercial sale taking place in May 2019 was in the City of Westminster for £74,000,000 and the cheapest commercial sale was in Newport, Isle of Wight, for £200.

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