THE Land Registry recorded a rebound in property sales last month but analysts do not expect a return to the historically high prices of early last year. The Government's figures showed there were 8,862 sales and purchases registered, up 14.5 per cent on June and 27.9 per cent on July last year. The usual time lag of about four weeks between someone buying a house and registering it with the Government means the registry's figures for last month better reflect sales in June. The 8,862 total would more than likely include more than 2,000 cut-price flats sold at Kingswood Villas in Tin Shui Wai. They were offloaded by Cheung Kong (Holdings) in June. Stripped of this one-off mass sale, the Government's figures may have registered a fall. Property agents said the secondary sales market was dead. The registry's official figures for June, reflecting sales activity in May, showed 7,741 transactions - a 33.7 per cent fall from the previous month. Other new development sales recorded last month included 300 units at La Costa development in Discovery Bay, owned by CITIC Pacific and HKR International. Sino Group and Kerry Group also launched 176 units in Crystal Park in Yuen Long. Land Power International managing director Michael Choi Ngai-min said the selling prices of Kingswood Villas units were far below the level achieved in urban areas. This meant the development's large sales volume would not have boosted the total transaction value. The total consideration of these agreements was $21.18 billion. This was down 1.1 per cent on June and 15 per cent less than for July last year. Real estate consultants expected to see a slight drop in property transactions lodged with the registry in the next two months, with activity likely to be maintained at about 8,000. Mr Choi said he did not expect a fall in sales volume in the registry's August figures because of good response for new releases of two developments in the primary market. Henderson Land Development Co sold about 500 units in the fourth phase development of Sunshine City in Ma On Shan. Meanwhile, an additional 176 units in Cheung Kong's Bayshore Towers in the same area were snapped up by buyers last month. Most of these transactions were expected to be reported in the registry's August figures. Mr Choi did not expect a rebound in sales activity for the poorly performing secondary market. 'The market is still quiet even though buying sentiment has improved slightly,' he said. Chung Sen Surveyors director Cheng Wing-ming said transaction volume in the secondary market had been seriously hit by new releases in the primary market.