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Property Deals in England, Wales Continue to Decline in April

Total property sales in England and Wales continued their freefall in April, with the number of registrations down nearly 16% compared to March, according to official data released Thursday by the U.K. Land Registry.

The government received 74,683 sales registrations in April, a 1.8% decline from a year ago, as the property market across the U.K. continues to reel from the uncertainty of Brexit negotiations, the deadline for which is now delayed until Oct. 31.  Luxury home sales of £1 million (US$1.26 million) or more accounted for only 1.7% of the properties that changed hands in England and Wales in April, according to the report.

As expected, the vast majority of those high-end deals, nearly two-thirds, were in Greater London. That included the most expensive residential sale in April, a £30 million detached house in the posh Holland Park neighborhood of Kensington and Chelsea. The late 18th-century brick mansion on Ilchester Place has nine bedrooms and multiple reception rooms, according to property records.

Manchester logged four £1 million-plus home sales in April, while there were three such deals in the West Midlands and none in Wales last month.  Meanwhile, new development sales fell considerably, according to the Land Registry. Fewer than 10,000 new-builds changed hands in April, a 15% decline from a year ago.

Original article: https://www.mansionglobal.com/articles/property-deals-in-england-wales-continue-to-decline-in-april-203504