Total values dive 21 per cent because of fewer luxury housing projects on offer
Property purchase volume fell for the fifth consecutive month last month as uncertainties over the impact of interest rate rises continued to cloud the sector.
Total property sale and purchase agreements lodged with the Land Registry last month numbered 8,670 - a drop of 2.7 per cent from August and almost half April's peak. Total values fell 21.1 per cent from August to $23.5 billion.
Of the deals, 7,100 were residential transactions, down 2.7 per cent from the previous month.
The value of home transactions for the month was $17.9 billion, 18.5 per cent lower than August because fewer luxury housing projects were on sale, according to the Land Registry.
Agents said recent interest rate rises had soured the sentiment which took monthly property transactions as high as 16,280 deals in April.
