New build sales increased in England and Wales in November 2017

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New build sales increased in England and Wales in November 2017

Some 106,412 property sales were registered in England and Wales in November 2017 with the number of new builds rising, the latest official figures show.

Of the total 79,133 were freehold, a 10.3% increase compared to November 2016, and 13,095 were newly built, a 5.2% increase compared to November 2016, according to the data from the land registry.

A breakdown of the figures show that 489 sales were properties sold for £1 million or more and 293 were properties in Greater London worth £1 million and over.

The most expensive residential sale in November 2017 was a semi-detached property in the London borough of Kensington and Chelsea for £13 million while the cheapest was a terraced property in Burnley, Lancashire, sold for £15,000.

The biggest group of properties sold were terraced home of which 27,890 sales were registered, followed by semi-detached houses with 27,093 sales, then 24,767 detached homes, and 19,635 flats or maisonettes.

The most expensive commercial sale in November 2017 was in Solihull, West Midlands for £73,900,000. The cheapest commercial sales in November 2017 were in Islington, Cambridge, Fenland, Redbridge and Southend on Sea, each for £100.

Source: www.propertywire.com