From the lowest level in 25 years.
Data from the Land Registry in March show that residential sales volume rebounded 45% month on month from the lowest level in 25 years, reaching 17,106.
According to a research note from Knight Frank, with potential buyers expecting increasing supply and a further drop in home prices, residential sales are expected to fall to around 50,000 units this year.
Although luxury home prices overall are expected to drop 5% this year, prices of super-luxury houses and apartments should remain firm, the report said. Mass-market prices could drop up to 10% in 2016.
Do you know more about this story? Contact us anonymously through this link.