London Transactions

Yesterday’s Land Registry release showed transactions had fallen by -39% in September 2016 compared to September 2015. The Land Registry data isn’t perfect as it excludes some sales and there’s a bit of a lag as sales are registered so this figure could be revised. However, it’s still worth having a quick look at the price profile of falling sales to understand which parts of the market are slowing.

Comparing the distribution of sales by price bands for the two periods shows that although sales at the top end of the market have fallen, there have been far larger falls in lower price bands, both by number and %. 
Further analysis by borough highlights that falling London transactions are not just the result of a slowdown at the top end of the market. The London housing market appears to be facing some significant challenges after a period of very strong house price growth.