Home sales dropped 3.8% to 4,488 units in January

This is worth $27.3b.

According to a release, the Land Registry received 4,488 sale and purchase agreements for residential units in January, down 3.8% month-on-month and down 17.3% year-on-year.

The total consideration for these agreements was $27.3 billion, down 22% month-on-month and down 4.5% year-on-year.

The registry received 5,817 sale and purchase agreements for all building units in the month, down 3.1% month-on-month and down 29.9% year-on-year.

The total consideration for these agreements was $33.6 billion, down 37.3% month-on-month and down 32.9% year-on-year.

The public made 331,206 land-register searches, up 8.3% month-on-month but down 27.7% year-on-year.