Signs of life in the property market as Land Registry registrations hit new high

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The number of property transactions registered with the Land Registry has gone above 100,000 for the first time this year.

The latest Price Paid data report from the Land Registry showed it received 100,330 registrations for residential sales during October.

This is up 10% on September and also 6.9% higher than last year.

It comes as banks have reported that mortgage approvals are at a three-month high and amid concerns about the return of 100% loan-to-value mortgages.

There is a time difference between the sale of a property and its registration, but the Land Registry said 31,119 took place in October.

Of these, 594 were of residential properties in England and Wales for £1m and over.

London saw 326 residential sales worth more than £1m, while five each took place in the West Midlands and Greater Manchester.

Cardiff registered two million-pound sales.