Property sales jump 4.8% in August

Compared to August 2021, however, sales were lower.

August marked higher sales for the property segment, with 5,238 building units sold.

According to the Land Registry, the total sale for August was 4.8% higher than July's, but 33.5% lower compared to the same period last year.

Of those sold, 4,137 were residential units. The number of sold residential units was up 12.7% from July, but 25.4% lower than a year ago.

Whilst the number of sold residential units saw an uptick, the total consideration dipped in July, decreasing 4.1% MoM and 40.4% YoY to $32.5b.

Overall, total considerations for all properties sold during the month still rose  118.4% MoM and 30% YoY to $91.6b.