Land Registry is booming!
Land Registry figures suggest the property market was far from dormant in June.
The Government property register processes 1.4m applications in the month, up 500,000 in May, and only just over 200,000 in June last year.
The South East topped the table of regional applications with 336,000. Greater London figured next with 268,000 applications while the North (68,000 applications), East Anglia (61,000) and Wales (57,000) were last on the list.
Of the top five local authority areas, City of London and Birmingham remained top throughout the three months April to June – with 21,000 application apiece in June. But Leeds, Manchester and Cornwall showed greater increases in activity, with Leeds applications increasing from 10,000 to 17,000, Manchester from 9,000 to 14,000, and Cornwall from 8,000 to 14,000.
Most applications (763,000) were for official copies of register entries, but 309,000 were for registry updates – up 140,000 on May.
This is showing that there is more movement in the market since the stamp duty holiday which has come into play therefore we have been advising our landlords and investors to start purchasing properties, as now is the time to do so.
Please do not hesitate to contact Kilnstone Property if you are looking to complete a valuation for your current property, or if you are looking to purchase a property as we have multiple different valuation tools allowing us to obtain the right price for your property!
T: 01293 278312