November property registrations slips to 7,121 units

Residential agreements decline as total consideration eases year on year.

The Land Registry recorded 7,121 sale and purchase agreements for November, down 1% from October and 7.4% year on year (YoY), according to a report. The shift reflected softer activity across residential and non-residential segments.

Total consideration for all building units was nearly unchanged, rising 0.9% month on month to $58.4b. This, however, represents a fall of 8.9% from a year earlier, the report noted.

Residential agreements totalled 5,588, a 2.2% decrease from October and 11.3% lower year on year. Consideration for residential units increased 1.2% to $51.7b but remained 9.8% below the level recorded a year ago.

The registry processed 385,763 land register searches in November, indicating sustained administrative activity despite reduced transaction volumes.